×
84 102
Fashion Jobs
NORDSTROM
Asset Protection - Agent - Rack at 31st & 6th
Permanent · New York
NORDSTROM INC
Senior Product Manager - Supply Chain
Permanent · Atlanta
NORDSTROM
Asset Protection - Agent - Gateway Center Rack
Permanent · New York
JOCKEY
Full-Time Associate Manager at Jockey - Eagan, mn - Starting at $19/HR
Permanent · Eagan
L'OREAL GROUP
Packaging Operator- 12 Hour Weekend Nights
Permanent · Somerset
L'OREAL GROUP
Packaging Operator- 12 Hour Weekend Nights
Permanent · Somerset
L'OREAL GROUP
Packaging Operator- 12 Hour Weekend Nights
Permanent · Somerset
L'OREAL GROUP
Packaging Operator Weekend Days
Permanent · Somerset
L'OREAL GROUP
Salon Business Partner (Saloncentric) - Cincinnati, oh
Permanent · Cincinnati
L'OREAL GROUP
Packaging Operator
Permanent · Piscataway
L'OREAL GROUP
Manager- Brand Business Development, (Bbd) l'Oreal Paris (Skin)
Permanent · New York
KOHLS
Part-Time Loss Prevention Associate
Permanent · Plainfield
KOHLS
Full-Time Loss Prevention Associate
Permanent · Plainfield
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · West Valley City
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Greenville
ALL SAINTS
Stock Manager
Permanent · Sunrise
COTY
Business Development Manager, Retailer.Com
Permanent · New York
ROSS STORES
Finance Manager (Logistics)
Permanent · Fort Mill
ROSS STORES
Store Protection Specialist
Permanent · El Paso
ROSS STORES
Store Protection Specialist
Permanent · Orlando
ROSS STORES
Store Protection Specialist
Permanent · Tucker
ROSS STORES
Store Protection Specialist
Permanent · Oakland
Published
Aug 26, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Trove raises new finance as it targets Europe and luxury re-commerce

Published
Aug 26, 2021

​Re-commerce specialist Trove has closed a $77.5 million Series D funding round led by G2 Venture Partners, bringing its total funding so far to $122.5 million as it seeks to grow in Europe and enter luxury.


Photo: Pexels/Public domain



The investment increases the firm's valuation to between $200 million and $300 million and the company said it will use the new cash to “significantly expand its roster of brand partners, strengthen its technology and logistics infrastructure, enter the luxury vertical, and service a new customer audience in Europe”.

Trove is a branded re-commerce market leader and powers circular shopping for brands including Lululemon, Patagonia, REI, Nordstrom, Levi’s, Eileen Fisher, Arc’teryx and others.

Other participants in the funding round included Bank of Montreal, Capital One Ventures, Commerce Ventures, Wellington Management and all of Trove’s existing board investors.

CEO Andy Ruben said: “Consumer demand for resale is soaring and premium brands know it’s now a strategic imperative to control their brand and stay close to their customers by owning their trade-in and resale channels instead of handing them over to third-party marketplaces.”

It’s estimated that re-commerce will account for 14% of the apparel, footwear and accessories market by 2024, or roughly $60 billion, up from about 7% in 2020, the company said, citing research from Cowen. 

Trove provides the technology platform and logistics brands use to control their own re-commerce channels and last year processed nearly 1 million unique items and managed over 10 million catalogue records, triple the number in 2019.

G2 Venture Partners clearly sees re-commerce as a big opportunity, citing the carbon footprint of the fashion industry and the drive toward a more sustainable future.

Copyright © 2021 FashionNetwork.com All rights reserved.