Restoration Hardware

#1906

Rank

$7.44B

MarketCap US

US United States

Country

Summary
RH, together with its subsidiaries, operates as a retailer in the home furnishings. It offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, and child and teen furnishings. The company provides its products through its retail galleries; and Source Books, a series of catalogs, as well as online through rh.com, rhbabyandchild.com, rhteen.com, and rhmodern.com, as well as waterworks.com. As of January 29, 2022, it operated a total of 67 RH Galleries and 38 RH outlet stores in 30 states in the District of Columbia and Canada, as well as 14 Waterworks showrooms throughout the United States and the United Kingdom. The company was formerly known as Restoration Hardware Holdings, Inc. and changed its name to RH in January 2017. RH was incorporated in 2011 and is headquartered in Corte Madera, California.

History

Stephen Gordon founded Restoration Hardware in Eureka, California, in 1979 while restoring a Victorian home and finding affordable, high-quality hardware and fixtures unavailable. The company expanded slowly in Northern California and Boston before raising outside capital from Cardinal Investments which allowed it to accelerate its expansion. The company had 47 stores when it went public in 1998, ending the year at over 65 stores. It then expanded to over 100 stores in 31 states, with $369.5 million in net sales by 2001.

In 2001, Gary Friedman joined the company from Williams-Sonoma, Inc. as Chief Executive Officer after being passed over for the CEO position at Williams-Sonoma by Howard Lester. Restoration Hardware's sales were waning and the company was seeking additional capital. In 2005, Gordon left the company in order to take over as CEO of Robert Redford's Sundance Catalog Company. In 2007, Sears Holdings Corporation purchased 13.7% of the share of Restoration Hardware, prompting speculation that Sears might attempt a full takeover. After the United States housing bubble burst, the company was slated to close two stores in 2008, including the original store located in Old Town Eureka, and open one in Canada. In June 2008, the company completed the transaction without Sears Holding, but instead with Catterton Partners.

Catterton took Restoration Holdings private in June 18, 2008. That year, the company also launched its baby-and-child line. In 2012, Restoration Hardware underwent an initial public offering, trading at $24 a share at its opening. The company was renamed RH, and trades on the New York Stock Exchange under the symbol RH. In 2007, about 65% of the company's products were made outside the US, particularly from contract manufacturers in southern China. The company is the largest importer of Belgian Linen and Italian bedding in the United States.RH created a small spaces line in 2012, composed of furnishings scaled down for smaller living spaces. The 2014 Small Spaces source book depicts 18 different smaller-scale homes in the United States and Europe. In 2013, RH also released the Objects of Curiosity source book, showing character pieces, artifacts, and unique décor. The tableware line was released in 2013.In 2012, the company was accused of copying the designs of other companies, specifically those used for the US military. On March 7, 2013, RH opened a gallery in Boston's Back Bay in an 1864 brick and brownstone structure at 234 Berkeley Street. In May 2013, the company announced a multichannel RH contemporary art platform when it acquired the first edition of Rain Room by Random International with exclusive showing rights in North America. RH loaned Rain Room to the Museum of Modern Art in New York for the U.S. premier of EXPO 1: New York from mid-May through July 2013. In 2014, RH opened a 70,000 square foot store which Atlanta Magazine called RH's "next-generation full-line design gallery", which includes amenities like a 50-foot infinite pool.RH operates six stores in Canada: one full-line design gallery at Yorkdale Shopping Centre in Toronto, three galleries and two outlets.


Mission
Restoration Hardware is driven by a passion for inspiring consumer’s homes with timeless, yet timely heirloom-quality products and services that can be shared and passed down for generations to come.

Vision
Restoration Hardware’s vision is to be the world’s most desired luxury lifestyle brand. Their mission is to provide customers with beautifully designed luxury furniture, home decor, and accessories that combine classic and modern styles, celebrating the past and embracing the future.

Key Team

Ms. Christina Hargarten (Chief Accounting Officer & Principal Accounting Officer)

Mr. Cammeron Finnegan McLaughlin (Sr. VP of Investor Relations & Strategy)

Ms. Sandy Pilon (Chief People & Values Officer)

Mr. Fernando Garcia (Pres of Furniture Operations & Home Delivery and Chief Supply Chain Officer)

Mr. Stefan Duban (Sr. VP and Chief Gallery & Customer Officer)

Mr. Peter Sallick (CEO & Creative Director of Waterworks)


Recognition and Awards
Restoration Hardware has been recognized for its innovative design and high quality products. Awards they have received include the Wall Street Journal’s Top Brand Award, the Good Housekeeping Seal of Approval, and numerous design awards from ADEX Awards and Design Magazine.

References
Restoration Hardware
Leadership team

Mr. Gary G. Friedman (Chairman & CEO)

Ms. Eri Chaya (Pres, Chief Creative & Merchandising Officer and Director)

Mr. Jack M. Preston (Chief Financial Officer)

Products/ Services
E-Commerce, Marketplace, Retail
Number of Employees
1,000 - 20,000
Headquarters
Corte Madera, California, United States
Established
1979
Company Registration
SEC CIK number: 0001528849
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
RH
Social Media
Sun Mar 03 2024
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