Nati Harpaz is stepping down as managing director of Catch.com.au to start a family investment vehicle and startup incubator called Harpaz Group.
The move, announced in a LinkedIn post on Sunday, comes almost four years after Harpaz joined Catch of the Day, a popular daily deals site turning over around $250 million a year from the sale of end-of-line brand-name goods.
As CEO of Catch Group, he oversaw the rebrand to Catch and launch of an online marketplace, which saw the company roughly double annual revenue by the time Wesfarmers acquired it for $230 million in June 2019.
“What we have done in the last four years is nothing short of amazing and it is all thanks to the great team that works at Catch,” Harpaz wrote in a farewell message on LinkedIn.
“I am leaving at a time that the business is at its peak with great results, great foundations and a great culture.
Over the last six months, Catch has become more closely integrated into Wesfarmers’ department store business.
Online shoppers on Catch can now choose to pick up their orders from Target using click-and-collect, and members of the Club Catch loyalty program qualify for free shipping on online orders from Kmart and Target. Catch also has a pop-up store in the Target at Highpoint shopping centre in Melbourne.
“It is time for me to move on to the next stage of my life which includes a year off to travel with my family and I know that with the current Catch team and the support of Kmart and Wesfarmers Catch will continue to conquer new peaks,” Harpaz wrote on LinkedIn.
Catch co-founder Gabby Leibovich wrote on LinkedIn that Harpaz was the “right CEO at the right time” and that Wesfarmers has been left in a “great position” to grow the brand.
“I am estimating revenues to reach $1B in the very near future,” Leibovich wrote.
A spokesperson for Kmart Group confirmed Harpaz’s departure to Inside Retail.
“Nati has led Catch through a period of strong growth along with the recent transition into Wesfarmers and the Kmart Group and we thank him for his contribution and service – the business is well set up for further future success,” the spokesperson said.
A new managing director for Catch is expected to be announced shortly.
Nati Harpaz is an owner of Octomedia, publisher of Inside Retail.