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

Polyester yarn price surge affects Surat textile industry

Textiles | On 22nd May 2018

Polyester yarn price surge affects Surat textile industry

The prices of polyester yarn have increased about 12-15 per cent in...

Provide power at Rs 8/kWh to textile units: APTMA

Textiles | On 22nd May 2018

Provide power at Rs 8/kWh to textile units: APTMA

All Pakistan Textile Mills Association (APTMA) has asked the...

Courtesy: Myntra

Fashion | On 22nd May 2018

Myntra to launch exclusive red carpet line at IIFA 2018

India’s leading destination for fashion online, Myntra, is all set to ...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Urmil Arya

Sushila International, a well established textile organisation established ...

Mohammad Hassan
Biax Fiberfilm

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search