The remaking of Restoration Hardware
The RH Gallery in Chicago during its 2015 grand opening, the first of a new generation of stores meant to change for fortunes of the company better known as Restoration Hardware. | Getty
In the age of e-commerce, RH brands itself with high-end retail spaces and a membership program It?s very on-brand for Restoration Hardware?the luxe furniture brand known for eccentric oddities, neutral-tone couches, and 17-pound mail-order catalogs filled with J. Peterman-esque product descriptions?to have a CEO quoting poet Robert Frost. But considering the unique path the company has taken over the last few years, it?s fairly apt.
?The road of endless promotions, free shipping, and a shrinking store base is resulting in broken and unsustainable retail models,? CEO Gary Friedman wrote last September in a letter to shareholders. ?We prefer the road less traveled by, and like Robert Frost, believe it will make all the difference.? The company, renamed RH in 2012, is in the midst of a resurgence after famously tanking in 2001, when the stock dropped to 50 cents a share, as well as taking another steep dip in value two years ago. It?s new vitality and image underscores the vision of CEO Gary G. Friedman, a former Pottery Barn and Williams-Sonoma exec who famously started his retail career as a Gap store manager. He has changed the fortunes of a furniture retailer by reinventing its approach for 21st-century commerce by not just going online, but rethinking the in-store experience.
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