Made.com has snapped up on-line homeware platform Trouva in a bid to speed up its development plans.
Made advised shareholders on Monday morning that the deal, for an undisclosed sum, will assist to increase its on-line market enterprise.
London-based Trouva was launched in 2015 and has relationships with greater than 700 boutiques throughout Europe, it stated.
It will proceed to function as a stand-alone operation, led by its present management of Alex Loizou and Dimple Patel.
Nicola Thompson, chief government of Made, stated: “This acquisition brings with it an experienced and talented team, a sector-leading technology platform and excellently procured choices of homewares product that will resonate with the Made target customer.
“Trouva’s assortment complements Made’s design-led homeware and home proposition superbly and is a great strategic fit for Made as we continue to enhance our marketplace offer.
“This acquisition will allow us to significantly accelerate our growth strategy by expanding our curated product range – giving our customers more choice and newness – and scaling the business in key territories both established and targeted by leveraging Trouva’s exceptional cross-border technology.”
Made added that the acquisition means will probably be capable of “avoid some” anticipated funding spending on its market enterprise.
It subsequently expects capital expenditure of as much as £18 million for 2022, having beforehand forecast spending of as much as £20 million.
Mr Loizou, co-founder and chief government of Trouva, stated: “We are excited for the future of Trouva as part of Made.
“The combination of the two businesses enables us to leverage synergies across our brands, customers and our technology platform.
“By becoming part of the Made group, we will continue on our mission to support independent boutiques and brands by making their curation accessible.”
Shares in Made have been 1.4% larger after early buying and selling.