Trove

In Forbes - Gold In Your Closet: The Startup Helping Patagonia And Levi’s Cash In On The Resale Boom Trove CEO Andy Ruben says brands have no choice but to get into resale. “Not being in this space is a very risky decision, given the growth and importance of it.” The packages come every day by the hundreds, hauled in on pallets and torn open by a small army of workers. The contents are always a surprise. An Arc’teryx winter coat that no longer fits. Patagonia boots used to hike the Pacific Crest Trail last summer. The 80,000-square-foot warehouse outside San Francisco is the central nervous system for Trove, the big-brand reseller setting up shop at the crossroads of retail’s tumultuous present and potentially transformative future. “It’s soup to nuts,” says Ruben, whose operation helps companies capitalize on used goods that their customers would ordinarily pawn at vintage shops or dump into landfills. “It’s resale in a box.” Secondhand products represent a $28 billion business that’s expected to more than double to $64 billion by 2024.

Trove, a company that powers circular shopping for leading brands, including Levi’s, Patagonia, REI, Eileen Fisher and Arc’teryx, today announced that it has appointed Gayle Tait as President and Chief Operating Officer. Tait brings more than two decades of global general management, marketing and commercial experience spanning consumer goods, payments, e-commerce and digital marketing from her time at L’Oréal and Google. She will report directly to CEO Andy Ruben. Tait’s appointment follows a year of milestone achievements for Trove, including significant revenue growth, a new partnership with Levi’s, sustainability progress and industry recognition. “Circular shopping is the fastest-growing retail segment and we’re very excited to have Gayle join us at this key moment to further propel our growing business,” said Andy Ruben, CEO of Trove. “Her leadership experience and industry expertise will be invaluable as we continue on our quest to build the leading recommerce technology platform enabling brands to control their resale market and reduce their environmental impact.”