Catch MD Exits After Wesfarmers Sale
Catch Managing Director, Nati Harpaz, has announced he’s leaving the company after nearly four years, following its sale to Kmart and Target Australia parent-company Wesfarmers for $230 million last year.
The acquisition seeks to raise the digital capabilities of Wesfarmers’ department stores, with Catch operating as an “independent business unit” under the oversight of Kmart Group Managing Director, Ian Bailey.
Market commentators expect the possibility of a new Managing Director announcement for Catch Group soon.
“I am leaving at a time that the business is at its peak with great results, great foundations and a great culture,” said Mr Harpaz to his Linkedin.
Mr Harpaz has been at the helm of Catch.com.au since August 2016, and is moving onto a Director position at family-owned ‘investment vehicle and start-up incubator’ the Harpaz Group based in Melbourne.
Post to his LinkedIn, Harpaz will be on leave until October 2020 and will be taking time with his family.
Catch Group was initially known for its sale of ‘discontinued’ and ‘end of season’ items, however, has continued to rebrand – commentators expect further positioning changes under Wesfarmers’ leadership.
New integrations include the ability to pick up Catch orders from Target stores via click-and-collect, with its Catch Club loyalty club also offering perks for Target and Kmart online orders.
Catch Co-founder, Gabby Leibovich, has commended Mr Harpaz on his ability to lift business revenue, whilst forecasting Group revenues to reach $1 billion “in the very near future.”