Trove has acquired a German-based leader in the European branded resale market, Reverse.Supply.
The move—lauded as the branded resale and trade-in commerce partner’s first pan-European branded resale network—marks a “major milestone” in Trove’s international platform rollout. It’s also an “impactful consolidation” in the resale space at large, Trove’s CEO, Terry Boyle, told Sourcing Journal, as the Oakland-based B Corp is now available across 30 countries.
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“Since I joined, we’ve been very focused on Europe; we’ve won a lot of business here, we’ve been building a network here,” Boyle said. “But the opportunity to acquire Reverse.Supply and have it be ‘Trove Europe’ was too good to pass up.”
Reverse.Supply—a recommerce-as-a-service tool—works to “enable brands to enter the circular economy” by handling the technical and logistical aspects of resale platforms. Things like price management, refurbishment, product data creation and fulfillment processes. Founded in early 2021, Reverse.Supply said it offers scalable takeback, resale and end-of-life solutions for brands.
“The acquisition comes at a strategic time as changing European legislation around producer responsibility and right-to-repair creates urgency for brands to establish effective resale, repair and recycling programs,” said Boyle. “By establishing our European headquarters in Berlin with a team that’s been operating in resale for nearly five years, we’re positioned to serve European and global brands seamlessly across regions and provide them with the full capabilities they need to launch and scale successful resale programs.”
To Boyle’s point, the transaction timing was “pivotal,” Reverse.Supply co-founder Janis Künkler said, all things considered.
“Brands and retailers in Europe are facing new legislation and actively seeking profitable, future-proof revenue streams,” said Künkler, who will head up sales. “By bringing Trove’s proven technology to Europe, we’re positioned to help brands navigate these changes and build successful resale programs. This deal underscores both the relevance of resale and the strength of the European fashion market.”
That means the entire Reverse.Supply crew will join Trove’s team. Reverse.Supply’s co-founders, Janis Künkler and Max Grosse Lutermann, will lead the European headquarters in Berlin.
“We’re getting this awesome team that has five years of experience doing resale deals in Europe. We’re getting a great client roster, and we’re getting a lot of ‘know-how’ to work on what will be our platform,” Boyle said. “It’s really exciting to add a ready-to-go team and give them a global, one-stop-shop of resale solutions that can work with.”
To that end, Trove’s global client list now counts Reverse. Supply’s roster of European partners—including LOHAS-centric label Armedangels and organic fashion brand Hessnatur as well as French sporting goods retailer Decathlon and German outdoor equipment shop Bergzeit. In turn, Reverse. Supply’s two dozen clients (give or take) gain access to Trove’s suite of technologies.
“The acquisition enhances our ability to deliver greater strategic value to European brands and retailers,” said Max Grosse Luterman, co-founder of Reverse.Supply and, now, general manager of Europe. “With our merged expertise and Trove’s technology, we can now offer a scalable, profitable circular solution that’s even more tailored to the specific needs of each brand or retailer.”
It’s a “huge milestone” for these partners, Künkler added, given the pressure and movement on the market and changing legislative landscape.
“There’s a need for solutions which are scalable and profitable; the platform Trove is offering perfectly fits those needs,” Künkler said. “It’s much broader, when it comes to product offering; this one-stop-shop solution is something brands have been looking for and asking for. Now, with this new setup, we will finally be able to serve this.”
Those expanded offerings include returns processing, peer-to-peer and externalization—the “ability to put the software into clients’ facilities,” per Boyle—and repair services.
“There’s no question that Trove and Reverse.Supply, shared a mission and ethos, which makes the coming together that much easier,” Boyle continued. “I think we have a strong belief in harnessing the power of like-minded entrepreneurs. When you can bring that together and use it to push the resale model forward, it’s powerful.
