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RH (company)
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RH
Logo RH.gif
Formerly Restoration Hardware
Type Public Company
Traded as
NYSE: RH
S&P 400 component
Industry Retail
Founded in 1979 in Eureka, California, United States
Founder Stephen Gordon
Headquarters Corte Madera, California, United States
Key people Gary Friedman
(Chairman and CEO)
Products Home furnishings
Revenue Increased by US$3.76 billion (2021)
Operating income increased by US$927 million (2021)
Net income increased by US$689 million (2021)
Total assets Increase by US$5.54 billion (2021)
Total equity increased by US$1.17 billion (2021)
Number of employees 6,500 (January 2022)
Website rh.com
Footnotes / references
[1]
RH (formerly Restoration Hardware) is an upscale American home-furnishings company headquartered in Corte Madera, California. The company sells its merchandise through its retail stores, catalog, and online. As of August 2018, the company operated a total of 70 galleries, 18 full-line design galleries, and 6 baby & child galleries. The company also has 36 outlet stores in the United States and Canada.
History
Stephen Gordon, founder of Restoration Hardware at the original Eureka, CA headquarters in 1981.
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.[3] 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[4] by 2001.
Restoration Hardware location in the former Museum of Natural History building, Boston
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.[5] In 2007, Sears Holdings Corporation purchased 13.7% of the share of Restoration Hardware, prompting speculation that Sears might attempt a full takeover.[6] 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,[7] and open one in Canada. In June 2008, the company completed the transaction[specify] without Sears Holding, but instead with Catterton Partners.
Catterton took Restoration Holdings private on June 18, 2008.[8] That year, the company also launched its baby & child line.[9] In 2012, Restoration Hardware underwent an initial public offering, trading at $24 a share at its opening.[10] The company was renamed RH, and trades on the New York Stock Exchange under the symbol RH.[11][12] In 2007, about 65% of the company's products were made outside the US, particularly from contract manufacturers in southern China.[13] The company is the largest importer of Belgian Linen and Italian bedding in the United States.

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