expands with deal to buy online platform Trouva has purchased online housewares platform Trouva in a bid to accelerate its growth plans.

Made told shareholders Monday morning that the deal, for an undisclosed amount, will help grow its online marketplace business.

London-based Trouva was launched in 2015 and has relationships with more than 700 shops across Europe, he said.

It will continue to operate as a stand-alone operation, led by its current leadership of Alex Loizou and Dimple Patel.

Nicola Thompson, Managing Director of Made, said, “This acquisition brings an experienced and talented team, a cutting-edge technology platform and well-bought household product choices that will resonate with Made’s target customer base.

“Trouva’s assortment complements Made’s design-driven housewares and homeware proposition superbly and is a great strategic complement for Made as we continue to enhance our offering to the market.

“This acquisition will allow us to significantly accelerate our growth strategy by expanding our curated product line – giving our customers more choice and newness – and expanding the business in key territories that are both established and targeted by leveraging advantage of Trouva’s exceptional cross-border technology.”

Made added that the acquisition means it will be able to “avoid some” planned capital expenditures for its market business.

It therefore foresees capital expenditure of up to £18m for 2022, having previously forecast expenditure of up to £20m.

Mr. Loizou, co-founder and CEO of Trouva, said, “We are excited about the future of Trouva as part of Made.

“Combining the two businesses allows us to leverage synergies between our brands, our customers and our technology platform.

“By joining the Made Group, we will continue our mission to support independent boutiques and brands by making their curation accessible.”

Shares of Made were up 1.4% after initial trade.