Made.com has snapped up online homeware platform Trouva in a bid to accelerate its growth plans.
Made told shareholders on Monday morning that the deal, for an undisclosed sum, will help to expand its online marketplace business.
London-based Trouva was launched in 2015 and has relationships with more than 700 boutiques across Europe, it said.
It will continue to operate as a stand-alone operation, led by its current leadership of Alex Loizou and Dimple Patel.
Nicola Thompson, chief executive of Made, said: “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 it will be able to “avoid some” anticipated investment spending on its marketplace business.
It therefore expects capital expenditure of up to £18 million for 2022, having previously forecast spending of up to £20 million.
Mr Loizou, co-founder and chief executive of Trouva, said: “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 were 1.4% higher after early trading.