IN early June, much of the country was beginning to emerge from its pandemic-induced hibernation—cars creeping back on the road, restaurants moving tables outside and, of course, stores opening their doors.
But while most retailers were shifting their focus to how they could reconfigure their existing stores to the new realities of the Covid-19 era, RH—previously known as Restoration Hardware—took a different approach.
In an annual letter that Gary Friedman, RH’s CEO, wrote to shareholders, he laid out the brand’s plans not just for the next year, but for the company’s next chapter: opening new stores (or galleries, as RH calls them), expanding into the travel sphere (with RH-branded guest houses and a yacht) and entering the residential real estate market with RH Residences.
It was a bold blueprint at…
