Trove has acquired Recurate, a peer-to-peer resale platform, solidifying its leadership in the sector. The acquisition, announced Tuesday, positions Trove to account for 75 per cent of branded resale traffic in the US. Terms of the deal were not disclosed.
Trove, known for managing resale operations for brands like Patagonia and Levi’s, will integrate Recurate’s peer-to-peer model. This model allows brands to facilitate resale without the need for inventory management or detailed listings. Recurate’s client roster, including Steve Madden, Michael Kors, and Frye, will join Trove’s existing clients such as Eileen Fisher, On, and Canada Goose.
The secondhand fashion market has seen significant growth, with hundreds of brands launching resale channels. Trove’s fully managed approach contrasts with Recurate’s model, offering brands flexibility in how they handle pre-owned goods. With Recurate’s technology, Trove can now launch and scale new resale programs in as little as four weeks.
“This strategic acquisition strengthens our ability to provide brands with the tools they need to excel in the circular economy, offering greater flexibility and faster go-to-market solutions,” said Terry Boyle, Trove’s chief executive.
Looking forward, Trove plans to expand internationally, eyeing upcoming partnerships in Europe.
