Online furniture brand Made has acquired online platform Trouva. With this curated marketplace for independent boutiques, Made aims to further develop itself as a marketplace for design and lifestyle.
Made pursues platform strategy
After an expensive IPO last year and sluggish consumer demand this year, interior design brand Made is looking for new growth opportunities. The British online player sees particular merit in a platform strategy, where external brands and designers can also offer products through the Made marketplace. Earlier this year, the company announced that it would be expanding its range from 9,500 to at least 11,500 SKUs in doing so.
This number is likely to grow, now that Made is putting its money where its mouth is by acquiring British online marketplace Trouva. Trouva presents itself as a curated platform with a range of independent boutiques and brands. The platform sells home and lifestyle products, as well as fashion and personal care items.
Reach and logistical capacity
“Trouva’s assortment is an excellent complement to Made’s design-driven homeware and home proposition and is a great strategic fit for Made as we continue to enhance our marketplace offering. This acquisition allows us to significantly accelerate our growth strategy by expanding our range and reach”, Made CEO Nicola Thompson told Retail Gazette.
At the front end, Trouva will continue to operate as an independent brand under the leadership of the current management team, while at the back end, Made will provide the technological integration of both companies. Made will be able to take advantage of Trouva’s logistics capacity, which will allow it to save on investments. This year Made thought it would need to spend 15-20 million pounds on new warehouses, but that would now only be two million pounds lower. The acquisition price has not been divulged.