RH makes huge plans for 2021, 2022

RH plans to open 4 new galleries this 12 months within the U.S., just like the corporate’s flagship NYC Gallery proven right here.

CORTE MADERA, Calif. – Luxurious residence furnishings retailer RH will open 4 new showrooms within the U.S. this 12 months and plans to increase into Europe in 2022.

“Since we the individuals of Group RH typically transfer in the wrong way of the herd, are allergic to hunkering down and absolutely don’t imagine s we belong within the pandemic pile. … We spent the time reimagining and reinventing ourselves at a never-before-seen tempo,” Gary Friedman, CEO of RH, wrote in his quarterly letter to shareholders.

“We’re constructing probably the most complete and compelling assortment of luxurious residence furnishings on the earth,” he additionally mentioned within the letter. “The desirability and exclusivity of our product amplified in our inspiring areas has enabled us to realize important market share with RH core demand up 36% within the fourth quarter.”

The corporate plans to introduce its new RH Up to date assortment later this fall after which add on RH Shade, RH Couture and RH Bespoke over the following a number of years, in accordance with Friedman.

The luxurious retailer additionally plans to launch The World of RH later this fall, which can be a digital portal to current complete details about the corporate’s merchandise, locations, providers and areas.

“We are going to start to convey the totally different components of our built-in ecosystem to life with wealthy content material that we imagine will improve our model and join with our purchasers on a a lot deeper degree,” Friedman mentioned within the letter.

Plans are to start worldwide enlargement in Europe with the openings of RH England and RH Paris in 2022. The primary RH Guesthouse can be set to open in New York Metropolis this fall, adopted by the corporate’s second Guesthouse in Aspen, Colo., which can embody the primary RH Tub Home and Spa, set to debut within the fall of 2022.

In his quarterly letter, Friedman additionally introduced plans for RH to open 4 new design galleries in 2021, all with built-in eating places and wine bars. These will embody the brand new RH San Francisco, The Gallery on the Historic Bethlehem Metal Constructing; RH Dallas, The Gallery on Knox; RH Oak Brook, Illinois, The Gallery on the Heart; and RH Jacksonville, The Gallery at St. Johns City Heart.

“We have now all the time invested in controlling our model from idea to buyer, avoiding intermediaries who won’t ever care as a lot as we do,” mentioned Friedman within the letter. “That’s why we’ve averted partnerships, sponsorships, franchising, or licensing and proceed to imagine manufacturers with extra management will grow to be extra beneficial.”

The corporate has additionally been testing the RH In-Your-Residence idea within the Los Angeles and San Francisco markets and Friedman mentioned they’re “extraordinarily pleased with the early outcomes.”

“RH In-Your-Residence just isn’t a special or higher expertise, it’s a distinctive and memorable expertise as we prolong the gallery into the shopper’s residence,” mentioned Fernando Garcia, RH president of furnishings operations and residential supply. “With furnishings ambassadors managing each element, it creates an impression with our prospects that may final a lifetime.”

Within the shareholder letter, Friedman added that the corporate additionally plans to open a brand new one-million-square-foot furnishings distribution heart in Southern California by the tip of spring that can permit RH to scale back supply instances by seven to 10 days for each outside furnishings and particular order upholstery in most main markets.

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