お知らせ

Mitsui Fudosan Co., Ltd., has invested in Trove Recommerce, Inc. (Trove), the market leader in branded resale and trade-in for world-class brands and retailers, through its 31VENTURES Global Innovation Fund II (31VENTURES II).

In response to the waste issue caused by mass production of clothing and the trend mainly among Generation Z in the US toward buying secondhand clothing, apparel brands themselves are showing strong interest in recommerce. Trove provides streamlined resale platforms for brands that enable them to receive used clothing at stores and smoothly set single SKUs and prices using its proprietary digital tool. Through the services, brands can increase customer loyalty and attract new customers in addition to gaining resale business opportunities. Trove already has a customer base that includes top-tier outdoor brands, among other verticals, and it is striving to achieve a world where even more top brands can operate their own resale platforms.

Mitsui Fudosan Co., Ltd., has decided to invest in Trove in recognition of its leading position and experience in apparel resale in the US. Through this investment, Mitsui Fudosan Co., Ltd., looks forward to contributing to further acceleration of this domain, thereby driving the effort to achieve sustainability.

About Trove

Location: California, USA
CEO: Gayle Tait
Founded: 2012
URL: https://trove.com/

About 31VENTURES II

Name: 31VENTURES Global Innovation Fund II
General Partner: Global Brain Corporation
Limited Partner: Mitsui Fudosan
Fund Size: JPY 8.5 billion