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BFD Expert Voices - Retail Deals

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GoodwillFinds, the online resale platform backed by a consortium of Goodwill nonprofit stores, is primed for growth after tapping top retail talent to scale operations, CEO Matthew Kaness tells Axios.

Why it matters: Thrifting household name Goodwill is targeting a growing global secondhand marketplace, poised to reach $350 billion by 2027, according to a recent ThredUP report.

Driving the news: Nicolas Genest, who has served as chief technology officer at Modcloth and Walmart’s U.S. e-commerce division, will join GoodwillFinds as the head of its technology, product, data analytics and IT services.

GoodwillFinds has also tapped Jim Davis, who has worked with omnichannel brands such as Hoka, Urban Outfitters and Buck Mason, as its chief revenue officer.

By the numbers: GoodwillFinds, which has 20 employees, has already generated double-digit millions in gross revenue as an enterprise, Kaness says.

The company has also added another three GoodwillFinds stores to its platform and will double its employee headcount this year.

It will add another three to four more in April, “and then we'll look to double that again before the end of the year,” Kaness says.

It will go from launching 120,00 unique items to about a quarter million unique items on its site.

Kaness expects it to approach nearly a million unique items in its catalog by year’s end.

There are more than 150 Goodwill stores to activate, he says, so this means plenty of headroom to grow just by continuing to bring more Goodwills on.

Zoom in: “Nicolas was the CTO of the RealReal before they went public so he technically understands how to architect a platform, how to build products, and how to design and manage a roadmap for this exact model,” Kaness says of Genest.

About Davis, Kaness says, he’s “managed massive e-commerce and digital brands at scale, and understands how to build a demand gen engine that is efficient, that is targeted, and that specifically works within a brand umbrella.”

What’s next: GoodwillFinds will deploy more software, tools and training on the platform to help individual stores improve operations.

The company also aims to improve cross-channel marketing to the in-store Goodwill customer.

The intrigue: GoodwillFinds is also in the process of opening up its catalog to cross-sell and co-list on other marketplaces, such as Amazon, eBay, and a number of other retailers, he says.

“That's one thing that we're building out, which is going to make us easier to find within a much larger online audience,” he says.

The bottom line: “I see a huge need for an industry-wide platform, not just for Goodwills and consumers, but also for retailers and brands,” he adds.

GoodwillFinds taps top talent to accelerate resale platform

The resale platform has hired retail leaders Nicolas Genest and Jim Davis.

Illustration of a recycling symbol being stitched onto fabric.

Resale - Secondhand marketplace - Recommerce

GoodwillFinds, the online resale platform <a class="gtmContentClick" data-vars-link-text="backed by a consortium of Goodwill nonprofit stores" data-vars-click-url="https://link.axios.com/click/31116293.606/aHR0cHM6Ly93d3cuYXhpb3MuY29tL3Byby9yZXRhaWwtZGVhbHMvMjAyMi8xMC8wNC9nb29kd2lsbC1sYXVuY2hlcy1lLWNvbW1lcmNlLXBsYXRmb3JtLXNlY29uZGhhbmQtbWFya2V0cGxhY2U_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXByb19kZWFsc19yZXRhaWxfc3VicyZzdHJlYW09dG9w/6241b97a2bec4503a570c049B7082e962" data-vars-content-id="6e46ffd2-2f4d-4a0c-a471-8b7189a6f32e" data-vars-headline="GoodwillFinds taps top talent to accelerate resale platform" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/31116293.606/aHR0cHM6Ly93d3cuYXhpb3MuY29tL3Byby9yZXRhaWwtZGVhbHMvMjAyMi8xMC8wNC9nb29kd2lsbC1sYXVuY2hlcy1lLWNvbW1lcmNlLXBsYXRmb3JtLXNlY29uZGhhbmQtbWFya2V0cGxhY2U_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXByb19kZWFsc19yZXRhaWxfc3VicyZzdHJlYW09dG9w/6241b97a2bec4503a570c049B7082e962" target="_self">backed by a consortium of Goodwill nonprofit stores</a>, is primed for growth after tapping top retail talent to scale operations, CEO Matthew Kaness tells Axios.Why it matters: Thrifting household name Goodwill is targeting a growing global secondhand marketplace, poised to reach $350 billion by 2027, according to a <a class="gtmContentClick" data-vars-link-text="recent ThredUP report" data-vars-click-url="https://link.axios.com/click/31116293.606/aHR0cDovL3RocmVkdXAuY29tL3Jlc2FsZT91dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249cHJvX2RlYWxzX3JldGFpbF9zdWJzJnN0cmVhbT10b3A/6241b97a2bec4503a570c049B0b1ee6a1" data-vars-content-id="6e46ffd2-2f4d-4a0c-a471-8b7189a6f32e" data-vars-headline="GoodwillFinds taps top talent to accelerate resale platform" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/31116293.606/aHR0cDovL3RocmVkdXAuY29tL3Jlc2FsZT91dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249cHJvX2RlYWxzX3JldGFpbF9zdWJzJnN0cmVhbT10b3A/6241b97a2bec4503a570c049B0b1ee6a1" target="_self">recent ThredUP report</a>.

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GoodwillFinds taps top talent to accelerate resale platform

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