RH (formerly Hardware Recovery) is an American home furniture company headquartered in Corte Madera, California. The company sells its merchandise through retail stores, catalogs, and online. On November 1, 2014, the company operates a total of 59 galleries, 6 full line design galleries, and 3 baby & amp; children's gallery. The company also has 35 outlet outlets in the United States and Canada.
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Histori
Stephen Gordon founded Restoration Hardware in Eureka, CA in 1979 when restoring Victorian-style homes and found high-quality hardware and equipment that were affordable and unavailable. Tn. Gordon honed his merchandise for ten years, grew slowly in Northern California and Boston before raising capital beyond Cardinal Investments to allow for accelerated expansion. The company had 47 stores when it went public in 1998, ending the year at more than 65 stores and initiating a rapid expansion into more than 100 stores in 31 countries totaling $ 369.5 million in net sales in 2001.
Gary Friedman joined the company from Williams-Sonoma in 2001 as Chief Executive Officer after being authorized for the CEO position at Williams-Sonoma by Howard Lester when Hardware Restoration sales faded and the company sought additional capital. In 2005, Gordon left the company to take over as CEO of Sundance Catalog Company Robert Redford. In 2007, Sears Holdings Corporation announced the purchase of a 13.7% stake in Restoration Hardware, prompting speculation that Sears Holdings might try a full takeover. After the bursting of the housing bubble of the United States, the company was scheduled to close two stores in 2008 including the original shop located in the heart of Eureka Old Town, and opened one in Canada. In June 2008, the company completed the transaction without Sears Holding, but with Catterton Partners.
On June 18, 2008, the company was no longer traded publicly. That year, the company also launched baby products & amp; child line. In 2012, Hardware Recovery experienced an initial public offering of trading at a price of $ 24 per share at its opening. Common Stock Restoration Hardware Holdings, Inc. traded on the New York Stock Exchange under the RH symbol. After this step, the company changed its name to RH, deleting the rest of the company name letter from its official nomenclature. About 65% of the company's products come from abroad, mainly from contract manufacturers in southern China. The company is also the largest importer of Belgian linen and Italian bedding in the United States.
RH creates a small space line in 2012, consisting of reduced furniture for a smaller living space. The 2014 Small Space source book represents 18 different small-scale homes in the United States and Europe. In 2013, RH also released the book Objects of Curiosity source, which shows pieces of characters, artifacts, and unique. This line of cutlery was released in 2013.
In 2012, the company also found some allegations of copying the designs of other companies, especially those used for the US military. On March 7, 2013, Restoration Hardware opened the gallery at Boston's Back Bay in a brick and 1864 brick structure at 234 Berkeley Street. In May 2013, the company announced RH's multichannel contemporary platform when it acquired Rain Room's first edition by Random International with exclusive display rights in North America. RH lends Rain Room to the Museum of Modern Art in New York for the US prime minister or EXPO 1: New York from mid-May to July 2013. In 2014, RH opened a 70,000-square-foot shop that Atlanta magazine calls "next-generation RH" gallery full-line design ", which includes facilities like a 50-foot limitless pool.
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Source book
Time magazine is critical of the company because of its large catalog called "The Source Book" for its duration (992 pages), especially its paper waste. The full 2014 catalog weighs 17 lbs and has more than 3000 pages. The company claims that by incorporating all the different source books into one package it reduces their carbon footprint, while critics still state that the volume of paper used for mass delivery of publications is wasteful.
Design philosophy
As of September 2010, company representatives announced a change of focus for the company. In an effort to go further "up the market", the company has focused on offering gallery furniture at a higher price to differentiate itself from competitors such as Pottery Barn. Locations have started adding the term "Gallery" to their marques to show the changes. The company designs, markets, and sells collections through retail stores, resource books, and online. The San Francisco Chronicle has reported that, "One of the key strategies governing RH apart is its approach to inventory, while most retailers design goods at home, RH creates a different model." We have one full-time designer, Suzi Bolognese, working directly from London in our catalog and showing "[CEO] Friedman said." We find artists we love and 'curate' [clients]. "" The company has partnered with crafters and designers in the production of its tracks. Jim Cramer of CNBC stated that the source book is a tactic to pass the "four web walls" and make it "interesting for people to shop again". He also stated that RH is a market disrupter, often to the point of "disturbing itself". In a different section, Cramer stated that the company was rediscovering the concept of a brick and mortar store, including the use of huge, huge stores in unusual locations.
Executive
From 2001 until his resignation in 2012 following an independent report from Weil, Gotshal & amp; Manges into an inappropriate Friedman romantic relationship with a younger female employee, Gary Friedman is chairman of the company and co-chief executive officer with Carlos Alberini, who joined as co-CEO in 2010. After his dismissal, he continued his relationship with the woman. Friedman was reappointed as co-CEO and chairman in July 2013. The company also announced that simultaneously with Mr. appointment Friedman, RH obtained the exclusive right to develop the Hierarchy and that the new concept would be branded as RH Atelier, focusing on the development of luxury clothing, accessories, footwear and jewelry. In December 2013, Carlos Alberini resigned as CEO to accept the position of CEO of Lucky Brand Jeans, where Friedman became Chairman and CEO of the company.
References
External links
- Official website
Source of the article : Wikipedia
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