Rich Medway – Savers

Rich Medway’s journey to becoming general counsel and chief compliance and sustainability officer at Savers Value Village, a for-profit thrift store chain, is marked by adaptability, leadership, and a deep-seated passion for law and business. His career has spanned decades, taking him from private practice to the executive ranks at Nintendo of America and the C-suite of a unique retail enterprise.

Rich Medway | Savers | General Counsel & Chief Compliance Officer

With an unconventional path to his current role, Medway embodies the philosophy that legal professionals can drive business success—and that adaptability and people management are the keys to thriving in an ever-changing corporate landscape.

Medway grew up surrounded by conversations of policy and government. His father, the former director of congressional inquiries for NASA, nurtured his interest in law and government affairs early on. That curiosity carried into his studies at the University of Wisconsin-Madison, where he earned a degree in history and economics.

But it wasn’t until law school at the Catholic University of America’s Columbus School of Law that Medway’s trajectory began to take shape. After graduation, he joined a large private law firm in Washington, D.C., where he spent over a decade specializing in international arbitrations, antitrust and commercial litigation.

Despite his success in private practice, Medway was restless.

“When you’re a litigator, you’re always dealing with the past,” he explains. “I wanted to drive a company forward, to be more business-focused.”

A unique business

After a decade leading high-stakes litigation for Nintendo, Medway joined Savers, a company that operates over 350 thrift stores across North America and Australia.

In the U.S., the stores operate under the Savers, Value Village, 2nd Avenue and Unique brands, while in Canada, they’re known as Value Village and Village des Valeurs. The company’s business model is atypical in the thrift space. Unlike nonprofits like Goodwill or the Salvation Army, Savers is a for-profit retailer. It sources its inventory by purchasing used goods from a network of charity partners.

“Every one of our stores has a community donation center,” Medway explains. “We pay the designated charity for every donation made.”

The stores attract a diverse customer base—from need-based shoppers to treasure hunters looking for a North Face jacket for a fraction of its retail price.

Medway takes pride in its commitment to sustainability and in finding alternatives to the waste stream for reusable clothing and housewares. Savers’ unique business model has recently been recognized by various international business awards for its sustainability.

“We’re a thrift store on steroids,” he says. “We’ve brought a massive amount of technology to the business, from automated book processors that read ISBNs and price books to self-checkouts at all our stores.”

Growth and prosperity

Savers has grown significantly recently and went public in June 2023 with the support of Ares Management, which owns an 80+ percent stake in the company.

“We’re aiming for 25-plus new stores each year, but there’s no north star in terms of how many stores we’d like to open,” Medway notes.

Medway’s role at Savers extends far beyond traditional legal work. He oversees the legal and risk departments, comprising a team of about 30 people. His work touches everything from securities law to technology contracts and government affairs. He also manages board relations, including various board committees.

“It’s a small C-suite, so I’m pretty involved in everything,” he says.

Medway’s versatility has been tested in numerous ways. From managing 30+ simultaneous patent litigation cases at Nintendo to navigating Savers through an internal challenge and the COVID-19 pandemic, he’s repeatedly proven he can handle high-pressure situations.

“We had to shut down over 300 stores during COVID,” he recalls. “I’ve learned that you can handle anything if you put your mind to it and surround yourself with a great team.”

Leadership and development

One of the hallmarks of Medway’s leadership style is his focus on people development. “I like developing people. I always want someone on my team who wants to ultimately replace me,” he says. He holds weekly calls with his team to foster engagement. He’s also brought in specialized talent to support the company’s growth, such as a securities lawyer who helped prepare Savers for its IPO.

Despite his litigation background, Medway emphasizes that his role as a general counsel is more about building and driving a business forward than engaging in courtroom battles.

“I didn’t come to this position with a normal GC skillset,” he admits. “I’m a litigator by trade, but I’ve done all the normal things of a GC. Adaptability is important—you can learn anything and, of course, get to the right outcomes by retaining the right advisors and experts.”

Under its current leadership, Savers has embraced innovation. It has become a data-rich company that uses analytics to optimize store operations and inventory selection.

Savers’ expansion into new markets and technological advancements have positioned it as a leader in the thrift industry.

“We’ve brought a lot of organization and automation to the business,” Medway says.

The company’s central processing centers can sort and price clothing for up to eight stores simultaneously, and its data-driven approach helps optimize inventory and customer experience.

As Savers grows, Medway remains committed to fostering a positive culture within his legal and risk teams. His leadership philosophy is rooted in mentorship and people development, inspired partly by his mentor, Harry Huge, a famous Washington, D.C.-based litigator.

Medway wanted to move in-house to be more hands-on in shaping the company’s future. His big break came when he joined Nintendo, one of the most iconic gaming companies in the world, despite not being a gamer himself. “When I went for the interview, I borrowed a Game Boy,” he admits. But what he lacked in gaming experience, he made up for with legal expertise and a strategic mindset.

Medway joined Nintendo in 2005, just 11 months before the launch of the Wii—a console that would redefine gaming and catapult Nintendo to new heights. His role grew rapidly, and he became vice president and deputy general counsel. At the height of his tenure, he oversaw 30+ patent and class-action cases, led trial teams in jury and bench trials, served as the company’s representative in significant trials and traveled to Japan over 30 times to consult with his colleagues at Nintendo in the Kyoto headquarters. Many of the patent cases brought against Nintendo were essentially “bet the company” with damage demands above $1 billion.

“What I loved about Nintendo was their litigation philosophy—if they didn’t use the IP, they wouldn’t settle the case,” Medway recalls. His time at Nintendo taught him the importance of managing people and building strong teams. “I’ve always felt like a manager and a developer of people. The attorney who reported to me at Nintendo is now their general counsel.”

Medway’s path from private practice to Nintendo to Savers may be unconventional, but it’s a testament to his adaptability and business acumen. His ability to manage people, navigate complex legal issues, and drive growth has made him an invaluable leader at Savers. As the company enters its next development phase, Medway is focused on building its team and driving the business forward.

“I’m delighted with our legal and risk department setup,” he says. “We’re in a huge growth phase, and I’m excited about what’s next for the company and my team.”