Home / Knowledge / News / Apparel/Garments / Restoration Hardware to create new company for apparel biz
Restoration Hardware to create new company for apparel biz
20
Aug '12
Restoration Hardware, an innovative luxury brand in the home furnishings marketplace, announced a reorganization of the Company. The purpose of the reorganization is to create a vehicle to incubate new lines of business to support the Company’s future growth, while enhancing the predictability and focus of the Company’s existing business model. Under the new structure, Restoration Hardware will maintain all existing home businesses, while a new corporation will be created to develop new lines of business, including apparel, accessories, footwear and jewelry, many of which will be complementary to the Company’s new product development strategy. 

Restoration Hardware, at its sole option, will have the exclusive right to acquire each of the new businesses when they reach an appropriate level of maturity and profitability. 

In order to execute this plan, the Company will reorganize its leadership team. Gary Friedman, the current Chairman and Co-CEO of Restoration Hardware, will become the Founder, Chairman, and CEO of Hierarchy, the newly created company. Mr. Friedman will control Hierarchy, with Restoration Hardware owning a minority stake. Mr. Friedman will continue to be involved with Restoration Hardware in an exclusive advisory role, serving as Creator and Curator for Restoration Hardware with a focus on strategy, creative, and design direction. 
 
Mr. Friedman will remain the largest individual shareholder of Restoration Hardware and will serve as a non-director advisor to the board in his role as Chairman Emeritus. Carlos Alberini, Co-CEO of Restoration Hardware, will become Restoration Hardware’s sole CEO and will lead all major functions of the business. Since joining the Company in 2010, Mr. Alberini has played a major role in transforming the Company into a leading luxury brand. 
 
J. Michael Chu, a Managing Partner of Catterton Partners, will assume the role of Chairman of the Board of Restoration Hardware. Mr. Chu stated, “We are very excited about today’s announcement, as it represents yet another significant milestone in the extraordinary transformation of Restoration Hardware. The new structure provides a creative and efficient way to develop new businesses. Gary Friedman, who transformed Restoration Hardware into an admired lifestyle brand in the luxury home market, has demonstrated the ability to re-conceptualize and build some of the most successful brands in the industry, and his continued efforts to drive innovation at Restoration Hardware will be invaluable.” 

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search