RH expands its international expansion plans

In a summary of its third quarter results, the U.S. home furnishings retailer HR (Restoration Hardware) recorded the strongest two-year growth in its history (net revenues were up + 19% to $ 1.006 billion yoy, and up 49% yoy).

RH also presented its international expansion plans. 2022 will see the establishment of RH England, with a gallery in Aynhoe Park, a 73-acre estate designed in 1615 by English architect Sir John Soane, “which will present RH to the UK in a dramatic and unforgettable way”.

In addition, RH has secured locations for galleries in London, Paris, Munich and Düsseldorf, and is in rental or purchase negotiations for galleries in Milan, Madrid, Brussels and in France.

“Our plan to open immersive design galleries in all major markets will unleash the value of our vast assortment, generating revenues of $ 5 billion to $ 6 billion in North America and $ 20 to $ 25 billion globally.” , says RH.

Next year will also see the retailer launch the RH Contemporary brand (“the most significant new product launch in our history”), as well as the expansion of its RH Interiors and RH Modern lines and the growth of its Residences division.