Trove

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Trove is a pioneer and market leader in branded resale and trade-in solutions for world-class brands and retailers. Through its proprietary Recommerce Operating System, the company provides an end-to-end technology platform and logistics operations to enable brands to create and scale branded resale programs. Trove's solution allows customers to trade in their gently used items in-store or online, which are then processed, graded, and listed for resale on the brand's dedicated recommerce storefront powered by Trove.

The company's Recommerce Operating System utilizes machine learning, AI, and computer vision to accurately assess the condition of traded-in items, assign them unique SKUs, and dynamically price them for resale. Trove's platform seamlessly integrates with a brand's existing ecommerce channels, enabling a unified shopping experience for new and pre-owned products.

Trove operates its own processing facility, the ReWarehouse, in Brisbane, California, and has recently expanded its operations through partnerships with third-party logistics providers like Savino Del Bene and TERSUS Solutions. This expansion has allowed Trove to establish a network of Recommerce Powered Partner facilities across North America, including the US and Canada, with plans for further expansion into Europe.

By extending the lifecycle of products through resale, Trove aims to accelerate the shift toward more sustainable business models and a circular economy. Since its inception, the company has saved over 3 million kilograms of CO2 emissions and is projected to resell tens of millions of items by 2025.

Trove has experienced significant growth, with its technology now used in over 700 brick-and-mortar stores across the US as of August 2022. The company's client roster includes renowned brands such as Canada Goose, Carhartt, lululemon, Patagonia, REI, Levi's, Arc'teryx, and Allbirds, among others.

Key customers and partnerships

Trove has established partnerships with several leading brands across various industries, including:

Filson: Trove powers Filson's branded resale program, enabling customers to discover well-loved and pre-owned Filson products.

Cotopaxi: Trove supports Cotopaxi's "Más Vida" resale initiative, aimed at promoting sustainability and reducing waste.

Carhartt: Trove partners with Carhartt to operate the "Carhartt Reworked" resale program, extending the life of Carhartt's durable workwear products.

Canada Goose: Trove powers Canada Goose's "Generations" resale platform, enabling customers to trade in and purchase pre-owned Canada Goose products.

On: Trove collaborates with On to launch the "Onward" resale program, providing access to groundbreaking products while extending their lifespan.

Allbirds: Trove supports Allbirds' "ReRun" trade-in program, enabling customers to play a role in extending the life of Allbirds shoes.

Arc'teryx: Trove powers Arc'teryx's "Used Gear" resale program, aimed at reducing the brand's environmental impact per wear.

Eileen Fisher: Trove partners with Eileen Fisher to operate the "Renew" program, which takes back old garments and remakes them into new ones.

Patagonia: Trove powers Patagonia's "Worn Wear" resale platform, enabling customers to keep their products in use longer and reduce consumption.


Sources

Disclaimer: This company profile has been generated using data obtained through automated web searches and advanced generative AI technology. While we strive to ensure the accuracy and reliability of our sources, auto-generated information could be outdated or inaccurate and should be verified independently.
HQ location:
240 Valley Drive Brisbane CA USA
Founded year:
2012
Employees:
51-100
IPO status:
Private
Total funding:
USD 152.5 mn
Last Funding:
USD 30.0 mn (Series E; Aug 2023)
Last valuation:
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