Re:store acquires Trouva and pledges to “accelerate” opportunities for indies

Cambridge-based start-up Re:store has acquired London-based marketplace Trouva and is pledging to help bridge the gap between online and offline for independent retailers.

Re:Store, co-founded by Jon Reynolds, previously chief executive and co-founder of SwiftKey, and Siling Tan in 2020, aims to enable a human connection online through a personalised retail experience.

In a statement, Re:Store said that the acquisition comes as a “pivotal moment” for the start-up, as it plans to “to accelerate social commerce opportunities for independent retailers” by integrating its social commerce technology with the marketplace for use by more than 650 independent retailers.

The integration it states will further advance personalised consumer experiences between the retailers and their global customer base via Trouva, which will continue to operate as a standalone business.

Commenting on the acquisition, Jon Reynolds, chief executive and co-founder of Re:Store, said: “We’re excited by the opportunity to acquire Trouva and introduce our social commerce technology to Trouva’s fantastic boutiques and brands. We believe the future lies in enabling deeper connection and community online with authentic and passionate sellers, like those on the Trouva marketplace.

“We look forward to working with the Trouva team on delivering this shared vision and providing a fresh experience for independent retailers and their customers.”

Independent retailer platform Trouva secures future

Trouva, founded in 2015, helps customers find fashion, homeware and lifestyle products from independent boutiques and brands across Europe. 2022 was a “turbulent” year for the platform after it was acquired by Made.com in May, with the homeware and furniture retailer buying the platform to accelerate its own growth strategy.

However, when Made.com collapsed, and its brand, website, and intellectual property were sold to Next for an undisclosed amount in November, questions were raised about what would happen to Trouva. With Re:Store, the platform has secured its future and will continue to operate as a standalone business to continue its mission to allow bricks and mortar independents to sell online.

Dimple Patel, chief operating officer of Trouva, added: “This new phase for Trouva is an exciting one for both the team and our independent community. After what has been a turbulent trading year for all retailers, we’re thrilled to have Re:store on board to help Trouva continue to push the boundaries of technology and retail.

“Our unwavering mission to make independent shopping accessible to all will continue, as we strengthen our proposition and experience for both our community and our customers.”