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In 2012, Restoration Hardware underwent an initial public offering trading at $24 a share at its opening.<ref>http://online.barrons.com/article/SB50001424052748704755304578622080342139470.html?mod=BOL_twm_fs</ref> Restoration Hardware Holdings, Inc.'s common stock now trades on the New York Stock Exchange under the symbol RH.<ref>http://online.wsj.com/article/BT-CO-20121101-721216.html</ref>
In 2012, Restoration Hardware underwent an initial public offering trading at $24 a share at its opening.<ref>http://online.barrons.com/article/SB50001424052748704755304578622080342139470.html?mod=BOL_twm_fs</ref> Restoration Hardware Holdings, Inc.'s common stock now trades on the New York Stock Exchange under the symbol RH.<ref>http://online.wsj.com/article/BT-CO-20121101-721216.html</ref>


On March 7, 2013, Restoration Hardware opened an East Coast flagship store in [[Boston]]'s [[Back Bay]] in an 1864 [[Romanesque Revival]] brick and brownstone structure, the former [[Boston Museum of Natural History|Boston Society of Natural History]].<ref>http://www.boston.com/business/2013/03/05/restoration-hardware-opens-new-flagship-store/jcRuoIxFomy9Gh8ygFMF5N/pictures.html</ref><ref>http://www.restorationhardware.com/content/page.jsp?id=boston&link=RHBoston-HistoryReimagined</ref>
On March 7, 2013, Restoration Hardware opened an East Coast flagship store in [[Boston]]'s [[Back Bay]] in an 1864 [[Romanesque Revival]] brick and brownstone structure, the former [[Boston Society of Natural History|Boston Museum of Natural History]].<ref>http://www.boston.com/business/2013/03/05/restoration-hardware-opens-new-flagship-store/jcRuoIxFomy9Gh8ygFMF5N/pictures.html</ref><ref>http://www.restorationhardware.com/content/page.jsp?id=boston&link=RHBoston-HistoryReimagined</ref>


In December 2013, Carlos Alberini resigned as CEO to accept a position as CEO of [[Lucky Brand Jeans]].<ref name="Carlos Alberini Named Lucky Brand CEO">{{cite web | url=http://www.wwd.com/fashion-news/fashion-scoops/lucky-chief-7311974?src=nl/mornReport/20131213 | title=Carlos Alberini Named Lucky Brand CEO | publisher=WWD | date=13 December 2013 | accessdate=13 December 2013 | author=Clark, Evan}}</ref>
In December 2013, Carlos Alberini resigned as CEO to accept a position as CEO of [[Lucky Brand Jeans]].<ref name="Carlos Alberini Named Lucky Brand CEO">{{cite web | url=http://www.wwd.com/fashion-news/fashion-scoops/lucky-chief-7311974?src=nl/mornReport/20131213 | title=Carlos Alberini Named Lucky Brand CEO | publisher=WWD | date=13 December 2013 | accessdate=13 December 2013 | author=Clark, Evan}}</ref>
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File:Spring 2006 Presentation, Restoration Hardware South Coast Plaza.JPG|Restoration Hardware in [[South Coast Plaza]].
File:Spring 2006 Presentation, Restoration Hardware South Coast Plaza.JPG|Restoration Hardware in [[South Coast Plaza]].
File:Winter 2005 Bed & Bath Linens Presentation, Restoration Hardware South Coast Plaza.JPG|A selection of bath and bedding textiles, in the cool colors.
File:Winter 2005 Bed & Bath Linens Presentation, Restoration Hardware South Coast Plaza.JPG|A selection of bath and bedding textiles, in the cool colors.
File:Rogersbldg2009.JPG|Restoration Hardware in the restored Museum of Natural History, [[Boston, Massachusetts|Boston]].
File:Rogersbldg2009.JPG|Restoration Hardware location in the restored Museum of Natural History, [[Boston, Massachusetts|Boston]].
</gallery>
</gallery>


Revision as of 17:49, 20 January 2014

Restoration Hardware
Company typePublic
NYSE: RH
IndustryHome-furnishing stores
FoundedIn 1979 in Eureka, California, United States
HeadquartersCorte Madera, California, United States
Key people
Stephen Gordon, Founder
Gary Friedman, CEO, Chairman of the Board[1]
ProductsFurniture
Linens
Paint
Hardware
Revenue$1,193M (FY2012) [2]
Number of employees
3,000 Full Time
WebsiteRestorationHardware.com
RHbabyandchild.com

Restoration Hardware is an American furniture chain of home furnishings, hardware, and outdoor and garden products. The company is headquartered in Corte Madera, California. The company sells its merchandise offering through its retail stores, catalog and online. [citation needed] As of 2013, the company operated about 100 stores, spread throughout 30 states and Canada.[3]

History

The idea for the company came while founder Stephen Gordon was restoring his Queen Anne style house in Eureka, California. He had great difficulty finding period hardware and recognized a need in the marketplace. The first Restoration Hardware store opened in 1980.[4] 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, including the original store located in the heart of Old Town Eureka.[4] From 2001 until his resignation in 2012,[5] Gary Friedman was the company's chief executive officer and chairman. Friedman was reappointed as Co-CEO and chairman in July 2013.[6] Friedman is the former president of Pottery Barn.

In 2007, Sears Holdings Corporation announced the purchase of a 13.7% share of Restoration Hardware, prompting speculation that Sears Holdings might attempt a full takeover.[7]

After the bursting of the United States housing bubble, the company was slated to close two stores in 2008, and open one in Canada. In June 2008, the company completed the transaction without Sears Holding, but instead with Catterton Partners. As of June 18, 2008, the company was no longer publicly traded.[8]

Time Magazine was critical of the company for its large catalog called the "Source Book".[9]

In 2012, Restoration Hardware underwent an initial public offering trading at $24 a share at its opening.[10] Restoration Hardware Holdings, Inc.'s common stock now trades on the New York Stock Exchange under the symbol RH.[11]

On March 7, 2013, Restoration Hardware opened an East Coast flagship store in Boston's Back Bay in an 1864 Romanesque Revival brick and brownstone structure, the former Boston Museum of Natural History.[12][13]

In December 2013, Carlos Alberini resigned as CEO to accept a position as CEO of Lucky Brand Jeans.[14]

Current

Most of the company's products are of a style that recalls an early-20th-century New York, but it has recently added more modernistic products, such as a series of bath faucets that recall the Bauhaus designs.

As of September 2010, company representatives declared a change in focus for the company. In an attempt to go further "up-market", the company has focused itself on furniture gallery offerings at higher price points to distinguish itself from competitors like Pottery Barn. Locations have begun adding the term "Gallery" to their marques to indicate the change.[15]

A notable change for the company, known originally for its high quality, American-made furniture, is alleged to be the gradual outsourcing of furniture manufacturing to China starting in about 2006.[16]

Competitors

Gallery

  • Original Restoration Hardware store in Old Town Eureka, California.
    Original Restoration Hardware store in Old Town Eureka, California.
  • A Restoration Hardware store in Naperville, Illinois.
    A Restoration Hardware store in Naperville, Illinois.
  • Restoration Hardware in South Coast Plaza.
    Restoration Hardware in South Coast Plaza.
  • A selection of bath and bedding textiles, in the cool colors.
    A selection of bath and bedding textiles, in the cool colors.
  • Restoration Hardware location in the restored Museum of Natural History, Boston.
    Restoration Hardware location in the restored Museum of Natural History, Boston.

References

  1. ^ http://www.northbaybusinessjournal.com/76239/business-news-week-of-july-15-2013/
  2. ^ http://finance.yahoo.com/q?s=RH&ql=0
  3. ^ =[1] RestorationHardware.com. Retrieved June 29, 2012.
  4. ^ a b http://articles.latimes.com/2001/mar/23/business/fi-41574
  5. ^ Sorkin, Andrew Ross (August 16, 2012). "Restoration Hardware Co-Chief Steps Down After an Inquiry". DealBook (blog of The New York Times). Retrieved August 16, 2012.
  6. ^ Hsu, Tiffany. "Reporter". LA Times. Retrieved 10 July 2013.
  7. ^ Sarker, Pia (November 20, 2007). "Sears Eyes Restoration Hardware". TheStreet.com. Retrieved August 17, 2012.
  8. ^ Press release (June 17, [2008]). Restoration Hardware Completes Sale to Catterton Partners. Restoration Hardware (via PR Newswire). Retrieved August 17, 2012.
  9. ^ http://business.time.com/2012/09/19/what-was-restoration-hardware-thinking-putting-out-a-992-page-catalog/
  10. ^ http://online.barrons.com/article/SB50001424052748704755304578622080342139470.html?mod=BOL_twm_fs
  11. ^ http://online.wsj.com/article/BT-CO-20121101-721216.html
  12. ^ http://www.boston.com/business/2013/03/05/restoration-hardware-opens-new-flagship-store/jcRuoIxFomy9Gh8ygFMF5N/pictures.html
  13. ^ http://www.restorationhardware.com/content/page.jsp?id=boston&link=RHBoston-HistoryReimagined
  14. ^ Clark, Evan (13 December 2013). "Carlos Alberini Named Lucky Brand CEO". WWD. Retrieved 13 December 2013.
  15. ^ Irwin, Tanya (September 13, 2010). "Restoration Hardware Reinvents Itself". MediaPost. Retrieved August 17, 2012.
  16. ^ http://consumerist.com/2008/08/11/restoration-hardware-shifting-nearly-all-of-its-furniture-production-to-china/

External links

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