Latest / Omni Talk Retail / Trove Acquires Reverse.Supply to Drive Global Resale Expansion & Circular Retail Strategy

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Trove Acquires Reverse.Supply to Drive Global Resale Expansion & Circular Retail Strategy · Omni Talk Retail

• 0:00
  Trove
• 0:00
  has
• 0:00
  acquired
• 0:01
  Reverse
• 0:01
  Supply,
• 0:02
  a
• 0:02
  German
• 0:02
  based
• 0:03
  leader
• 0:03
  in
• 0:03
  the
• 0:03
  European
• 0:04
  branded
• 0:04
  resale
• 0:05
  market.
• 0:05
  According
• 0:06
  to
• 0:06
  a
• 0:06
  Trove
• 0:07
  press
• 0:07
  release,
• 0:07
  the
• 0:07
  acquisition
• 0:08
  marks
• 0:08
  a
• 0:08
  major
• 0:08
  milestone
• 0:09
  in
• 0:09
  Trove's
• 0:10
  international
• 0:10
  platform
• 0:11
  rollout,
• 0:12
  making
• 0:12
  branded
• 0:12
  resale
• 0:13
  even
• 0:13
  more
• 0:13
  accessible,
• 0:14
  scalable
• 0:14
  and
• 0:15
  operationally
• 0:15
  seamless
• 0:16
  for
• 0:16
  brands
• 0:16
  across
• 0:16
  30
• 0:17
  countries.
• 0:17
  By
• 0:18
  combining
• 0:18
  Trove's
• 0:18
  established
• 0:19
  technology
• 0:19
  platform
• 0:20
  with
• 0:20
  Reverse
• 0:20
  Supplies
• 0:21
  deep
• 0:21
  European
• 0:22
  expertise,
• 0:23
  Trove
• 0:23
  now
• 0:24
  offers
• 0:24
  a
• 0:24
  comprehensive
• 0:25
  and
• 0:25
  scalable
• 0:25
  set
• 0:25
  of
• 0:26
  technology
• 0:26
  components
• 0:27
  for
• 0:27
  brands
• 0:28
  seeking
• 0:28
  to
• 0:28
  implement
• 0:28
  circular
• 0:29
  solutions
• 0:30
  in
• 0:30
  new
• 0:30
  North
• 0:30
  America,
• 0:31
  Europe
• 0:31
  and
• 0:32
  the
• 0:32
  uk.
• 0:32
  Core
• 0:33
  solutions
• 0:33
  include
• 0:34
  things
• 0:34
  like
• 0:34
  omnichannel,
• 0:35
  trade
• 0:35
  ins,
• 0:35
  return
• 0:36
  processing,
• 0:36
  peer
• 0:36
  to
• 0:37
  peer
• 0:37
  commerce,
• 0:37
  customer
• 0:38
  facing
• 0:38
  resale
• 0:39
  solutions,
• 0:39
  marketplace
• 0:40
  integrations
• 0:41
  and
• 0:41
  repair
• 0:42
  services.
• 0:43
  And
• 0:43
  what
• 0:43
  makes
• 0:43
  Trove's
• 0:44
  acquisition
• 0:44
  of
• 0:45
  Reverse
• 0:46
  Supply
• 0:46
  so
• 0:47
  special
• 0:47
  to
• 0:47
  you?
• 0:48
  I,
• 0:49
  I
• 0:49
  really
• 0:49
  enjoy
• 0:50
  this
• 0:50
  because,
• 0:51
  you
• 0:51
  know,
• 0:51
  when
• 0:52
  we
• 0:52
  spoke
• 0:52
  to
• 0:52
  Terry
• 0:53
  Boyle,
• 0:53
  the
• 0:53
  CEO
• 0:54
  of
• 0:54
  Trove,
• 0:54
  he
• 0:55
  was
• 0:55
  one
• 0:55
  of
• 0:55
  our
• 0:55
  favorite
• 0:55
  interviews
• 0:56
  at
• 0:56
  Shop
• 0:56
  Talk.
• 0:56
  You'll
• 0:57
  remember
• 0:57
  Chris,
• 0:57
  I
• 0:57
  mean
• 0:58
  you
• 0:58
  and
• 0:58
  I
• 0:58
  were
• 0:59
  both
• 0:59
  talking
• 0:59
  about
• 0:59
  it
• 1:00
  after,
• 1:00
  after
• 1:01
  we
• 1:01
  were
• 1:01
  done
• 1:01
  speaking
• 1:02
  and
• 1:02
  he
• 1:03
  basically
• 1:03
  explained
• 1:03
  that,
• 1:04
  you
• 1:04
  know,
• 1:04
  the
• 1:05
  risk
• 1:05
  is
• 1:06
  so
• 1:06
  minimal
• 1:07
  here
• 1:07
  and
• 1:08
  the
• 1:08
  potential
• 1:09
  for
• 1:09
  the,
• 1:09
  that
• 1:09
  a
• 1:10
  brand
• 1:10
  can
• 1:10
  see
• 1:11
  for
• 1:11
  an
• 1:11
  increase
• 1:11
  in
• 1:11
  revenue
• 1:12
  who
• 1:12
  deploy
• 1:13
  something
• 1:13
  like
• 1:13
  this
• 1:14
  is
• 1:14
  so
• 1:14
  significant.
• 1:15
  So
• 1:15
  I
• 1:15
  think
• 1:16
  this
• 1:16
  just
• 1:16
  makes
• 1:16
  sense.
• 1:17
  And
• 1:17
  Reverse
• 1:18
  Supply,
• 1:18
  it
• 1:19
  runs
• 1:19
  similarly
• 1:20
  to
• 1:20
  Recurate
• 1:21
  in
• 1:21
  the
• 1:22
  US
• 1:22
  who
• 1:22
  Trove
• 1:23
  also
• 1:23
  acquired
• 1:24
  and
• 1:24
  who
• 1:24
  we
• 1:24
  had
• 1:24
  on
• 1:24
  the
• 1:25
  show.
• 1:25
  And
• 1:26
  what
• 1:26
  that
• 1:27
  does
• 1:27
  is
• 1:27
  it
• 1:27
  makes
• 1:27
  it
• 1:28
  so
• 1:28
  that
• 1:28
  the
• 1:28
  brand
• 1:29
  gets
• 1:29
  all
• 1:29
  of
• 1:29
  the
• 1:30
  upside
• 1:30
  here
• 1:31
  and
• 1:31
  the
• 1:31
  brand
• 1:32
  and
• 1:32
  the
• 1:32
  customers
• 1:32
  get
• 1:32
  all
• 1:33
  the
• 1:33
  upside
• 1:33
  here.
• 1:33
  There's
• 1:34
  now
• 1:34
  more
• 1:34
  products
• 1:35
  to
• 1:35
  choose
• 1:35
  from
• 1:36
  for
• 1:36
  customers.
• 1:36
  When
• 1:36
  the
• 1:37
  resale
• 1:37
  market
• 1:37
  has
• 1:38
  now
• 1:38
  expanded
• 1:38
  into
• 1:39
  other
• 1:39
  countries.
• 1:41
  There's,
• 1:41
  there's
• 1:42
  revenue
• 1:42
  for
• 1:43
  brands
• 1:43
  and
• 1:43
  likely
• 1:44
  savings
• 1:44
  for
• 1:44
  customers.
• 1:45
  With
• 1:45
  all
• 1:45
  the
• 1:45
  tariffs
• 1:46
  flowing
• 1:46
  around
• 1:46
  right
• 1:46
  now
• 1:47
  that
• 1:47
  are
• 1:47
  impacting
• 1:47
  the
• 1:47
  terror
• 1:48
  the
• 1:49
  apparel
• 1:49
  industry.
• 1:51
  And
• 1:51
  I,
• 1:51
  I
• 1:52
  am
• 1:52
  predicting
• 1:53
  that
• 1:53
  we
• 1:54
  see
• 1:54
  a
• 1:54
  significant
• 1:55
  increase
• 1:56
  in
• 1:56
  peer
• 1:56
  to
• 1:56
  peer
• 1:57
  resale
• 1:58
  even
• 1:58
  bigger
• 1:59
  than
• 1:59
  the
• 1:59
  $65
• 1:59
  billion
• 2:00
  that
• 2:00
  it
• 2:00
  was
• 2:01
  predicted
• 2:01
  that
• 2:01
  it
• 2:01
  would
• 2:02
  be
• 2:02
  at
• 2:03
  within
• 2:03
  the
• 2:03
  next
• 2:04
  five
• 2:04
  years
• 2:04
  here.
• 2:05
  Because
• 2:06
  the
• 2:06
  product
• 2:06
  purchased
• 2:07
  from
• 2:08
  these
• 2:08
  peer
• 2:08
  to
• 2:08
  peer
• 2:08
  resale
• 2:09
  sites
• 2:09
  is
• 2:10
  not
• 2:10
  taxed
• 2:10
  in
• 2:10
  many
• 2:11
  places
• 2:11
  and
• 2:11
  I
• 2:11
  don't
• 2:12
  think
• 2:12
  most
• 2:12
  people
• 2:12
  realize
• 2:13
  that.
• 2:13
  So
• 2:13
  when
• 2:13
  I
• 2:14
  buy,
• 2:14
  you
• 2:15
  know,
• 2:15
  a
• 2:15
  Gucci
• 2:16
  bag
• 2:16
  from
• 2:16
  somebody
• 2:17
  in
• 2:17
  Europe
• 2:18
  and
• 2:19
  it's,
• 2:19
  it's
• 2:20
  gently
• 2:20
  used,
• 2:21
  do
• 2:21
  I
• 2:21
  care
• 2:22
  about
• 2:22
  that
• 2:23
  as
• 2:23
  much
• 2:23
  as
• 2:23
  like
• 2:24
  paying
• 2:24
  in
• 2:24
  some
• 2:25
  cases
• 2:25
  thousands
• 2:26
  of
• 2:26
  dollars
• 2:27
  on
• 2:27
  top
• 2:27
  of
• 2:27
  that
• 2:27
  because
• 2:27
  of
• 2:28
  taxes
• 2:28
  to
• 2:28
  have
• 2:28
  that
• 2:29
  bag
• 2:29
  imported,
• 2:30
  like
• 2:30
  I,
• 2:30
  I
• 2:31
  think
• 2:31
  I'm
• 2:31
  going
• 2:31
  to
• 2:31
  go
• 2:31
  for
• 2:32
  the
• 2:32
  resale
• 2:32
  bag
• 2:33
  instead
• 2:33
  of
• 2:33
  buying
• 2:34
  new
• 2:34
  and
• 2:34
  dealing
• 2:34
  with
• 2:35
  all
• 2:35
  these
• 2:35
  tariffs
• 2:35
  and
• 2:36
  I
• 2:36
  think
• 2:36
  that
• 2:37
  stands
• 2:37
  to
• 2:38
  benefit
• 2:38
  again
• 2:38
  the
• 2:39
  customer,
• 2:39
  it
• 2:40
  gets,
• 2:40
  you
• 2:40
  know,
• 2:40
  new
• 2:41
  customers
• 2:41
  in
• 2:41
  for
• 2:42
  the
• 2:42
  brands
• 2:42
  at
• 2:42
  A
• 2:42
  lower
• 2:43
  price
• 2:43
  point
• 2:43
  and
• 2:44
  keeps
• 2:44
  them
• 2:45
  like
• 2:45
  in
• 2:45
  the
• 2:45
  brands,
• 2:47
  the
• 2:48
  brand's
• 2:48
  world.
• 2:49
  And
• 2:49
  I
• 2:49
  think
• 2:50
  this
• 2:50
  is
• 2:50
  going
• 2:50
  to
• 2:51
  be
• 2:51
  a
• 2:52
  significant
• 2:52
  change
• 2:53
  to
• 2:53
  how
• 2:54
  people
• 2:54
  shop
• 2:55
  for
• 2:55
  apparel
• 2:55
  and
• 2:56
  accessories
• 2:56
  and
• 2:56
  other
• 2:57
  resale
• 2:57
  products
• 2:58
  because
• 2:58
  of
• 2:59
  things
• 2:59
  like
• 2:59
  what
• 3:00
  Trove
• 3:00
  did
• 3:00
  here
• 3:00
  with,
• 3:01
  with
• 3:01
  this
• 3:01
  recent
• 3:02
  acquisition.
• 3:03
  But
• 3:04
  what
• 3:04
  are
• 3:04
  your
• 3:04
  thoughts,
• 3:05
  Chris?
• 3:05
  Yeah,
• 3:06
  I
• 3:06
  mean
• 3:06
  I,
• 3:06
  I,
• 3:06
  I
• 3:06
  mean
• 3:07
  you're,
• 3:07
  you're
• 3:07
  generally
• 3:07
  speaking
• 3:08
  the,
• 3:08
  far
• 3:08
  more
• 3:09
  the
• 3:09
  resale
• 3:09
  expert
• 3:09
  than
• 3:10
  I
• 3:10
  am.
• 3:10
  You
• 3:10
  know,
• 3:11
  being
• 3:11
  that
• 3:11
  this
• 3:11
  is,
• 3:11
  I
• 3:11
  mean
• 3:12
  resale's
• 3:12
  like
• 3:12
  an
• 3:13
  honest
• 3:13
  to
• 3:13
  God
• 3:13
  part
• 3:13
  of
• 3:13
  your
• 3:14
  everyday
• 3:14
  life
• 3:14
  from,
• 3:15
  from
• 3:15
  my
• 3:15
  understanding.
• 3:16
  And
• 3:16
  so,
• 3:16
  you
• 3:16
  know,
• 3:17
  I
• 3:17
  think
• 3:17
  I,
• 3:17
  I
• 3:17
  think
• 3:17
  I
• 3:17
  would
• 3:17
  just
• 3:18
  echo
• 3:18
  what
• 3:18
  you
• 3:18
  said.
• 3:19
  I
• 3:19
  mean,
• 3:19
  I
• 3:19
  think
• 3:19
  that
• 3:19
  the
• 3:20
  point
• 3:20
  for
• 3:20
  me,
• 3:20
  if
• 3:21
  I
• 3:21
  remember
• 3:21
  right,
• 3:21
  and
• 3:21
  didn't
• 3:22
  I
• 3:22
  sing
• 3:22
  single
• 3:23
  out
• 3:23
  Terry
• 3:24
  Boyle's
• 3:24
  statement
• 3:25
  as
• 3:25
  my
• 3:25
  like
• 3:25
  quote
• 3:26
  of
• 3:26
  the
• 3:26
  show
• 3:26
  or
• 3:26
  the
• 3:26
  thing
• 3:26
  I
• 3:27
  heard
• 3:27
  offstage,
• 3:27
  which
• 3:28
  was,
• 3:28
  you
• 3:28
  know,
• 3:28
  Terry,
• 3:29
  for
• 3:29
  those
• 3:29
  listening,
• 3:29
  said
• 3:30
  that,
• 3:30
  you
• 3:30
  know,
• 3:30
  he
• 3:31
  thinks,
• 3:31
  you
• 3:31
  know,
• 3:31
  resale
• 3:32
  is
• 3:32
  an
• 3:32
  immediate
• 3:32
  3
• 3:33
  to,
• 3:33
  I
• 3:33
  think
• 3:33
  3
• 3:33
  to
• 3:34
  5
• 3:34
  or
• 3:34
  4
• 3:34
  to
• 3:34
  5%
• 3:35
  comp
• 3:36
  store
• 3:37
  opport,
• 3:37
  comp
• 3:38
  sales
• 3:38
  growth
• 3:38
  opportunity
• 3:39
  for
• 3:39
  any
• 3:39
  retailer
• 3:40
  that
• 3:40
  does
• 3:40
  it.
• 3:40
  And
• 3:40
  I
• 3:40
  asked
• 3:40
  him
• 3:41
  then
• 3:41
  after
• 3:41
  I
• 3:41
  said
• 3:41
  like,
• 3:41
  well,
• 3:42
  what
• 3:42
  keeps
• 3:42
  people
• 3:42
  from
• 3:42
  doing
• 3:42
  it?
• 3:43
  And
• 3:43
  he's
• 3:43
  like,
• 3:43
  education.
• 3:44
  People
• 3:44
  just
• 3:44
  don't
• 3:45
  get
• 3:45
  it
• 3:45
  or
• 3:45
  understand
• 3:46
  how
• 3:47
  easy
• 3:47
  this
• 3:47
  is.
• 3:48
  And
• 3:48
  you
• 3:48
  know,
• 3:48
  that's
• 3:48
  the
• 3:49
  credit,
• 3:49
  the
• 3:49
  credit
• 3:49
  here
• 3:50
  is
• 3:50
  that
• 3:50
  they
• 3:50
  are
• 3:51
  slowly
• 3:51
  and
• 3:52
  slowly
• 3:52
  but
• 3:52
  surely
• 3:52
  assembling
• 3:53
  the
• 3:54
  pieces
• 3:54
  need
• 3:54
  to
• 3:54
  create
• 3:54
  a
• 3:55
  scalable
• 3:55
  solution
• 3:56
  for
• 3:56
  any
• 3:56
  retailer
• 3:57
  or
• 3:57
  brand
• 3:57
  to
• 3:58
  take
• 3:58
  advantage
• 3:58
  of
• 3:58
  resale.
• 3:59
  And
• 3:59
  so
• 3:59
  that's,
• 3:59
  that's
• 4:00
  what's
• 4:00
  really
• 4:00
  smart
• 4:00
  about
• 4:00
  this.
• 4:01
  And
• 4:01
  you
• 4:01
  know,
• 4:02
  I
• 4:02
  hope
• 4:03
  more
• 4:03
  people
• 4:03
  start
• 4:03
  getting
• 4:04
  on
• 4:04
  this
• 4:04
  train
• 4:05
  because,
• 4:05
  you
• 4:05
  know,
• 4:05
  growth's
• 4:06
  hard
• 4:06
  to
• 4:06
  come
• 4:06
  by.
• 4:06
  We've
• 4:07
  talked
• 4:07
  about
• 4:07
  it
• 4:07
  a
• 4:07
  lot
• 4:08
  and
• 4:08
  you
• 4:09
  know,
• 4:09
  this
• 4:09
  is
• 4:09
  a
• 4:09
  pretty
• 4:09
  easy
• 4:10
  way
• 4:10
  to
• 4:10
  get
• 4:11
  growth
• 4:11
  and
• 4:11
  to
• 4:11
  your
• 4:12
  point,
• 4:12
  keep
• 4:13
  people
• 4:13
  in
• 4:13
  your
• 4:13
  brand.
• 4:14
  That's
• 4:14
  the
• 4:14
  other
• 4:14
  part
• 4:14
  about
• 4:15
  this.
• 4:15
  It
• 4:15
  keeps,
• 4:15
  it
• 4:16
  makes
• 4:16
  the,
• 4:16
  makes
• 4:17
  the
• 4:17
  whole
• 4:17
  brand
• 4:17
  experience
• 4:17
  that
• 4:18
  much
• 4:18
  more
• 4:18
  sticky
• 4:18
  as
• 4:19
  well,
• 4:19
  which
• 4:19
  I
• 4:19
  think
• 4:19
  is
• 4:19
  something
• 4:20
  a
• 4:20
  lot
• 4:20
  of
• 4:20
  people
• 4:20
  could
• 4:20
  start
• 4:21
  to
• 4:21
  think
• 4:21
  more
• 4:21
  about.
• 4:22
  Yeah.
• 4:22
  And
• 4:23
  when
• 4:23
  it's
• 4:23
  peer
• 4:23
  to
• 4:23
  peer
• 4:24
  like
• 4:24
  this,
• 4:24
  like
• 4:24
  there's,
• 4:25
  there's
• 4:25
  even
• 4:26
  less
• 4:26
  risk,
• 4:27
  like
• 4:27
  you
• 4:27
  don't
• 4:28
  have
• 4:28
  to
• 4:28
  worry
• 4:28
  about
• 4:28
  getting
• 4:29
  products
• 4:29
  from
• 4:29
  one
• 4:30
  partner
• 4:30
  to,
• 4:30
  or
• 4:31
  one
• 4:31
  from
• 4:31
  one,
• 4:32
  you
• 4:32
  know,
• 4:32
  customer
• 4:32
  to
• 4:32
  the
• 4:33
  other.
• 4:33
  All
• 4:33
  you're
• 4:33
  doing
• 4:34
  is
• 4:34
  being
• 4:34
  the
• 4:34
  place
• 4:35
  that
• 4:35
  facilitates
• 4:36
  the
• 4:36
  transaction.
• 4:37
  Right.
• 4:37
  And
• 4:37
  being
• 4:38
  another
• 4:38
  reason
• 4:38
  for
• 4:39
  somebody
• 4:39
  to
• 4:39
  come
• 4:39
  directly
• 4:40
  to
• 4:40
  your
• 4:41
  website
• 4:41
  versus,
• 4:42
  you
• 4:42
  know,
• 4:43
  a
• 4:43
  third
• 4:43
  party
• 4:44
  and
• 4:44
  you
• 4:44
  get
• 4:44
  to
• 4:44
  maintain
• 4:45
  all
• 4:45
  of
• 4:45
  those
• 4:45
  brand
• 4:46
  relationship,
• 4:47
  one
• 4:47
  to
• 4:47
  one
• 4:47
  brand
• 4:48
  relationships
• 4:48
  too.
• 4:49
  So
• 4:50
  super
• 4:50
  smart
• 4:50
  move.
• 4:51
  I,
• 4:51
  I
• 4:51
  love
• 4:51
  it.