What: Trove creates and runs branded recommerce sites, where brands buy and sell used items to consumers.

Why it is important: By letting brands own their trade-in and resale channels, Trove enables them to stay closer to their customers, find new customers without sacrificing premium positioning, and control their brand while helping the environment and giving consumers a discount.

Circular shopping is becoming a big business. Instead of clothes going from - store, to consumer, to landfill, - items get a second (or third) life by circling back into use on the resale market, increasing sustainability and helping the environment, all while saving consumers money. Luxury consignment sites like The Real Real and Poshmark are a growing business, but brands have no control over what happens inside, make no money off those resales, gain no consumer data, and can't guarantee the articles offered are genuine. Trove gives brands back the power in the resale market.

Retailers already using Trove: lululemon, Patagonia, REI, Nordstrom, and Levi's

Funding: recently secured USD 77.5 million in Series D funding.

Learn more about Trove here