Following CGC Capital’s recent acquisition of Trouva, CEO Geri Cupi has promised retailers it will be making “significant investments in new technology” to improve its overall experience.
In a statement to independents selling on its website, he said the company is planning several changes for the customer-facing website to create “a fresh dynamic platform.”
Trouva announced it had been acquired by CGC Capital at the end of February, describing the new owner as a leading investment fund with over $100 million in assets and expertise in marketplaces, fintech, and AI.
Following the takeover, Cupi said he expected day-to-day operations to remain the same for retailers, who will continue to receive statements and payments “in the usual way.”
The acquisition comes after several months of uncertainty for the future of Trouva. In January it temporarily paused trading while former owner Project J looked for a new buyer for the business. In summer 2024, the marketplace was several months late paying retailers for stock sent out to customers.
Closing the statement, Cupi added: “We do not underestimate just how valuable our amazing community of boutiques are, and the unique and inspiring products you curate from all over the world. We look forward to working together to build a strong future for our independents and continue on our mission to showcase your curation to a global customer base.”