Arhaus
 | |
| Company type | Public |
|---|---|
| Nasdaq: ARHS | |
| Industry | Home furnishings |
| Founded | 1986 in Cleveland, Ohio, United States |
| Founders | Jack Reed and John Reed (current CEO) |
| Headquarters | , United States |
Number of locations | 86(2023) |
Key people | John Reed (CEO) |
| Revenue |  US$370 million (2016) |
Number of employees | 1,150 (2017) |
| Website | arhaus |
Arhaus is an American retail chain that designs and sells home furnishings online and through its retail stores and catalogs. The company is headquartered in Boston Heights, Ohio.[1]
History
Arhaus was founded in 1986 by John Reed and his father, Jack Reed, as a furniture store in The Flats of Cleveland, Ohio. The company name is a portmanteau of the Danish city "Aarhus," and the German word for "house."[2][3] The Reeds expanded Arhaus that same year, converting four Workbench franchise stores in the Cleveland and Akron, Ohio area into Arhaus storefronts.[4]
In 2013, the company formerly known as Homeworks, Inc. changed its name to Arhaus, LLC.
In 2015, the chain had 57 storefronts in the United States.[3] As of 2017, the chain had 67 storefronts in the United States.[5]
In 2014, Freeman Spogli & Co., a private equity firm, acquired a minority stake in Arhaus for an undisclosed amount.[6]
In 2016, Arhaus moved its headquarters from Walton Hills, Ohio to Boston Heights, Ohio.[7]
In 2019, Arhaus opened its new flagship location at Legacy Village in Lyndhurst, Ohio.
In 2021 Arhaus became listed on the Nasdaq with an initial public offering that valued the company at $1.75 billion.[8]
Growth
As of August 2022[update], Arhaus operates 80 locations across America in 28 states. The company has opened in-mall locations, including anchor stores, as well as freestanding locations as part of open air shopping centers. In 2014, Arhaus opened their first locations in Arizona and California in addition to six other stores.[7] In 2015, Arhaus opened seven new stores, including locations in Louisiana and Kansas, bringing total store count up to 60 by the end of the year.[9][10] Arhaus opened multiple New York locations in 2016 as well as another location in Texas.[11] In 2017, Arhaus opened its first Alabama and Wisconsin locations as well as another California location, increasing store count to 70.[12][13]
Products
Arhaus sells home furniture and decor products such as sofas, dining tables and chairs, bedroom furniture, bedding, media centers, tableware, rugs and lighting.[10] The company adapts its storefronts to reflect local markets and influences.[14]
According to Arhaus, the company does not source materials from endangered rainforests for its furniture. The company reports that around 50% of its product incorporates recycled materials.[3]
Arhaus sells "relics" as a part of their product offering. "Relics" are antiques that have been purchased by the company, refurbished or repurposed, and then are sold off the floor by Arhaus.[15][16]
References
- ^ Cho, Janet. "Arhaus Furniture building $43 million headquarters in Boston Heights in 2014". Cleveland.com. Retrieved 30 June 2017.
- ^ Bullard, Stan. "Two Flats classics set to be remodeled". Crain's Cleveland Business. Retrieved 30 June 2017.
- ^ a b c Cho, Janet. "Arhaus furniture investing $43 million in its retail future with new headquarters, warehouse (photos)". Cleveland.com. Retrieved 30 June 2017.
- ^ "Arhaus creates artsy ambience". Retrieved 30 June 2017.
- ^ Coon, Lexi. "New retailers and restaurants coming to The Summit". Retrieved 30 June 2017.
- ^ Suttell, Scott. "Arhaus owners sell minority stake to private equity firm". Crain's Cleveland Business. Retrieved 30 June 2017.
- ^ a b Ethridge, Mary. "Arhaus headquarters, big retail giving Boston Heights a commercial base". Crain's Cleveland Business. Retrieved 30 June 2017.
- ^ "Specialty Home Furnishings Retailer Arhaus Underwhelms In Its Nasdaq Open". Forbes. 5 November 2021.
- ^ Sayre, Katherine (2015-05-19). "Arhaus furniture store to open June 26 at South Market District downtown". NOLA.com. Retrieved 2017-11-27.
- ^ a b Smith, Joyce. "Two-story home furnishings store Arhaus opens in Leawood's Town Center Plaza". The Kansas City Star. Retrieved 30 June 2017.
- ^ "Arhaus Will Open Doors In February". Port Washington News. 2016-02-01. Retrieved 2017-11-27.
- ^ Pospychala, Megan (2017-07-02). "The Corners of Brookfield welcomes new retailers L.L Bean and Arhaus". FOX6Now.com. Retrieved 2017-11-27.
- ^ Poe, Kelly (2017-02-01). "New local restaurant, three retailers to join the Summit". AL.com. Retrieved 2017-11-27.
- ^ Rufca, Sarah. "Arhaus Furniture brings an eclectic, global style to Texas". The Houston Chronicle. Retrieved 30 June 2017.
- ^ "Stuff of Life: Turn books into decorative accents with colorful handmade paper". The Kansas City Star. Retrieved 30 June 2017.
- ^ "From the community: Arhaus Celebrates Grand Opening at Lake View Plaza on Saturday, October 1". The Chicago Tribune. Archived from the original on 2016-10-12. Retrieved 2019-09-13.