Goodwill Lands $500,000 Jewelry Donation

Memphis Business Journal

Date: Friday, February 3, 2012

(Picture) Henry Brenner’s business contacts have paid off for Memphis Goodwill again. Local businessman Thomas Edwards donated $500,000 worth of jewelry to the nonprofit.

Memphis Goodwill Inc. got a big jump on 2012 thanks to a shiny donation.

Local businessman Thomas Edwards donated more than $500,000 in jewelry to the organization.

The unopened merchandise, which includes earrings, bracelets and necklaces, will be sold throughout various Goodwill locations.

Edwards runs several companies. One of these, Lifestyle Products Distribution, acquires excess inventory and redistributes it through other channels.

He was looking to wind the business down to focus on other ventures and made the donation to help clear out a Houston warehouse operation.

“We could have sold it at a distressed level or we could donate it and give Goodwill a chance to capitalize on it for our community,” Edwards says.

At Goodwill, jewelry usually sells for 25-40 percent of its retail value. This donation will help Goodwill’s mission work, such as vocational rehabilitation.

“Donated goods is the economic engine which gives us the opportunity to do the work we do,” Henry Brenner, vice president of corporate and community relations, says.

Brenner joined Memphis Goodwill in June 2010 and has known Edwards for years. During a visit, he noticed some jewelry under the Design Du Jour brand. Edwards agreed to donate some of it to Goodwill’s grand opening of its Collierville location in November.

This eventually led to the larger donation. Edwards, who is also president of insurance consulting company Inovatus LLC, sees it as a way for some businesses to give back to the community.

“There are a lot of companies looking to clear out inventory at the end of the year, so hopefully we can spur that message and get them thinking about the Goodwill value it could be,” Edwards says.