Trouva up for sale again for fourth time in three years

The parent company of Trouva, Project J, is believed to have appointed accountancy firm RSM to oversee a new sales process for the online fashion platform. If sold, it would be the retailer’s fifth owner in less than three years.

According to sources for Sky News, Project J has initiated the sale to search for a new owner for Trouva and, as a result, halted its operations in a bid to “protect customers and sellers”.

Trouva was acquired by Project J last year, which snapped up the company alongside Fy!, a homeware and living marketplace. Sky News noted that Fy! remains unaffected by the sales process.

Speaking to the media outlet, co-founder of Project J, Jonathan Thomson, confirmed the speculation. In a statement, he said: “This has been an incredibly difficult decision, but we have decided to focus our efforts on building the Fy! brand and explore the options for a sale of Trouva.

“By exploring a potential sale, we are creating an opportunity for Trouva to continue its journey. We believe this is in the best interests of the business, boutiques and the team.”

Trouva has switched hands multiple times over the years, having initially been under the wing of Made.com, which months after acquiring the company opted to sell it to Re:store after falling into administration.