Restoration Hardware
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| Type | Privately held company |
|---|---|
| Founded | In 1979 in Eureka, California |
| Headquarters | Corte Madera, California |
| Key people | Stephen Gordon, Founder Gary Friedman, CEO |
| Industry | Home Furnishing Stores |
| Products | Furniture Linens Paint Hardware |
| Revenue | $660.80M (FY2006 net) |
| Employees | 1,500 Full Time |
| Website | www.restorationhardware.com |
Restoration Hardware is an American furniture chain of home furnishings, bath fixtures and bathware, functional and decorative hardware and related merchandise. The company defines its wares as classic and authentic American. Restoration Hardware, Inc. sells its merchandise offering through its retail stores, catalog and online. As of June 17, 2008, The Company currently operates 100 retail stores and 10 outlet stores in 30 states, the District of Columbia and Canada.
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[edit] History
The idea for the company came in 1979, while founder Stephen Gordon was restoring his Queen Anne style house in Eureka, California. He had great difficulty finding authentic period hardware and recognized a need in the marketplace. The first Restoration Hardware store, based in Gordon's home, opened in 1980.[1] The company had 47 stores when it went public in 1998; when it underwent a rapid expansion that doubled the number of stores in three years, the company began losing money and was forced to restructure and close some locations.[1]
[edit] Current
Since 2001, Gary Friedman has been the company's CEO and Chairman. Friedman was the former President of Williams-Sonoma. The company's headquarters are located in Corte Madera, California.
The company is not owned by any other home furnishing brands and is not affiliated in any way with others like Pottery Barn or Ethan Allen. However, in mid-2006 they established a new brand, Brocade Home, that was sold in 2008.
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Most of Restoration Hardware's products are of a style that recalls an early-Twentieth Century New York, but they have recently added more modernistic products such as the German-designed Spritz series of bath faucets that recall the Bauhaus designs. They also carry their own line of paint with a selection of thirty-three colors, grouped into four shades each of yellow, green, blue, purple, brown, rose, three shades of white, and four shades of the company's signature Silver Sage. Silver Sage is painted throughout all 100+ stores nationwide.
Popularly known for their wide range of hardware knobs, pulls, hinges, and hooks, Restoration Hardware has expanded their selection to include bathware, textiles, furniture and gallery lighting to appeal to a larger demographic. Lines are designed to match or complement one another in color and style. The company also carries an eclectic variety of toys, gardening tools, gadgets, and seasonal holiday decor, which maintain an overall 1920s period theme.
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Today, Restoration Hardware is currently straying away from the tools, toys and gadgets market and has focused on furniture quality and customer service.[citation needed] A newly expanded selection of living, bedroom, dining, office, bath, and outdoor furniture, bath textiles, and bed linens are the core of Restoration Hardware. Most Restoration Hardware furniture is made in the USA, bed linens are made in Italy, and bath textiles are made in Turkey. Towards the end of 2008, many of Restoration Hardware's lines have begun to be manufactured overseas.
In November 2007, Sears Holdings Corporation announced the purchase of a 13.7% share of Restoration Hardware, prompting speculation that Sears Holdings may attempt a full takeover.[2]
In the slowing housing market, Restoration Hardware is slated to close 2 stores in 2008, and open one in Canada.
In June 2008, Restoration Hardware completed the transaction without Sears Holding, but instead with Catterton Partners. As of June 18th, 2008, the company is no longer public on the stock market. [3]
Also in June 2008, RH Baby & Child was officially launched via the website & catalog channels.
Restoration Hardware's original location in Eureka, Ca. shut its doors on Jan. 29, 2009.
[edit] Competitors
- Crate & Barrel
- Pottery Barn
- Ralph Lauren Home
- Williams-Sonoma Home
- Frette (For Linens)
- WaterWorks (For Bath Hardware)
[edit] External links and references
- ^ a b Daniel Gross, Starbucks' 'venti' problem, Los Angeles Times, March 4, 2007.
- ^ TheStreet.com : Sears Eyes Restoration Hardware | Retail | RSTO SHLD
- ^ Restoration Hardware Completes Sale to Catterton Partners
