Who owns catch of the day

It owns Catch. The deal represents a second big payday for Catch's founders, Gabby and Hezi Leibovich, who started selling a deal a day on catchoftheday.

It launched a highly confidential dual track process after starting negotiations with Wesfarmers several months ago, sources said. This is high for a traditional retailer but low for a fast-growing digital business. Catch will operate as an independent business unit overseen by Kmart managing director Ian Bailey. Catch managing director Nati Harpaz will stay on with the business.

Wesfarmers shares slipped 0. Target and Kmart's online fulfilment is currently geared around deliveries from stores. Fund managers questioned the deal, saying that while the price looked fair, Catch Group was likely to come under pressure in the longer term as Amazon Australia gained market share. Branching out into food delivery with Eatnow, and offering deals for services, groceries and travel with other brands, the Catch Group was able to build a larger and more resilient business.

The decision to add an online marketplace, allowing independent sellers onto Catch. However, Gabby cautions that not all adaptation will be good for survival, and says that founders need to be proactive in recognising this. Gabby learnt this lesson the hard way. But even though Catch Group had experience selling these types of products, aimed at mothers and their children, through Mumgo, they had never made clothes or built a fashion brand.

After a year of trying to remake Pumpkin Patch, they cut the project short. Again, this talks to the importance of building strong relationships with the people around you. Gabby says that this focus on the people created a real sense of family at Catch Group. A people focus is better for your team, creating a happier and more productive environment. Are you a scaleup founder? Mr Scott said Catch gave Wesfarmers access to a market it did not currently reach with its bricks and mortar department stores, given most 80 per cent of what Kmart sells is now its own private label products.

Wesfarmers hopes Kmart and Target can learn from Catch. Credit: SMH. Only about 3 per cent of sales across Kmart and Target are online, compared to around 10 per cent across the retail sector as a whole.

Mr Scott said that was growing at around 50 per cent a year, with the strongest growth coming in click-and-collect orders. Catch Group managing director Nati Harpaz said Catch would "continue to deliver innovation in the online market in Australia, with the focus of delivering great value and savings to our customers. The company's co-founders, brothers Hezi and Gabby Leibovich, own about 90 per cent of the company, after buying out previous investors in the past three years, which have included James Packer and Seek co-founder Andrew Bassat.