Trouva has been snapped up by online retailer Fy!, marking the third time the business has been acquired within two years.
The online marketplace was purchased for an undisclosed sum. Fy! said the acquisition will double the size its business, which started life as a wall art retailer.
Both Fy! and Trouva use AI to power their marketplaces.
Fy! has said that its AI-enhanced search, which was launched in October, has led to a 45% rise in sales per searcher. The company’s AI-powered recommendations have also reportedly nearly doubled interactions with related product grids, significantly boosting shopper engagement and satisfaction.
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Trouva, which uses artificial intelligence to recommend lifestyle and home goods to customers, was previously purchased by Made.com, before it collapsed into administration in 2022.
The retailer was then acquired by Next less than a year later, before it was purchased by refill specialist Re:store in 2023.
Fy! CEO Tom Beverley said: ”Trouva’s strong brand, unique community of independent boutiques and product curation provide a compelling destination for customers. We look forward to working with the Trouva team to leverage Fy!’s AI-enabled search and discovery to benefit Trouva boutiques and customers.”
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