Online fashion marketplace Trouva pauses trading and hunts buyer
Trouva's owner, Project J, has engaged the accountancy firm RSM to seek the platform's fifth owner in less than three years, Sky News learns.
Friday 31 January 2025 11:58, UK
Trouva, an online marketplace for fashion boutiques, is calling a halt to trading while it explores its fourth sale in less than three years.
Sky News understands that the current owners of Trouva, which was founded in 2013, are working with the accountancy firm RSM to find a buyer.
Trouva is now owned by Project J alongside Fy!, a home and living marketplace which is unaffected by the sale process.
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The company offers a platform for independent shops and boutiques that do not have an online presence to sell their products.
A source close to the company said it had taken the decision to pause orders and sales during the search for a new owner in order "to protect customers and sellers".
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Since 2022, Trouva has been owned at various points by Made.com, which itself subsequently collapsed, then briefly by Next, and then a vehicle called Re:store.
It was acquired by Project J last year.
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"This has been an incredibly difficult decision, but we have decided to focus our efforts on building the Fy! brand and explore the options for a sale of Trouva," Jonathan Thomson, co-founder of Project J, said.
"By exploring a potential sale, we are creating an opportunity for Trouva to continue its journey.
"We believe this is in the best interests of the business, boutiques and the team."