Recommerce tech provider Trove acquires resale marketplace Recurate

Trove, a provider in branded resale and customer trade-in services, has announced the acquisition of resale marketplace Recurate in what the company said is a bid to make branded resale “more accessible and easier to launch and scale”.

As part of the acquisition, Trove will merge its resale capabilities with Recurate’s peer-to-peer expertise, operational network and Shopify integrations in order to develop a “one-stop shop for brands to tailor, launch and scale profitable resale programmes”.

According to Trove, with Recurate under its wing, it now oversees 75 percent of total US branded resale traffic, growth that has been further underlined by its recent onboarding of 29 new brands partners, including Steve Madden, Frye and Coyuchi.

Additionally, Recurate co-founders, former CEO Wilson Griffin and former CPO & COO Adam Siegel, will join Trove’s executive team.

In a release, CEO of Trove, Terry Boyle, said: “We’re thrilled to welcome Recurate’s talented team, innovative technology, and trail-blazing brands to Trove.

“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.”

Trove noted that it was planning to continue globally expanding, particularly in Europe and the UK where it aims to establish new enterprise partnerships.