Restoration Hardware

RH, formerly known as Restoration Hardware, is a luxury home furnishings company that focuses on high-end furniture, lighting, textiles, and décor, along with professional design services for residential customers. The brand serves markets across the United States and Canada, with a growing presence in select international cities, and reaches customers through its RH.com platform as well as its physical locations.

The company began in 1979, when founder Stephen Gordon launched Restoration Hardware as a mail-order and retail concept offering high-quality, historically inspired fixtures and furnishings. Over time, the brand built a national catalog and store presence. A major milestone came in 2012, when RH returned to the New York Stock Exchange as a public company under the ticker RH, following a period of private ownership led by Gary Friedman and his investment partners. Friedman, who joined in the early 2000s, steered RH away from a traditional specialty retailer model toward a broader luxury lifestyle vision centered on large, immersive galleries.

As of July 2022, RH operated about 120 locations, including 67 RH galleries, 39 outlet stores, and 14 Waterworks showrooms. These are supported by a workforce of roughly 6,500 employees across corporate, distribution, and retail operations. The company reported approximately $3.6 billion in net revenues for fiscal 2023. RH is headquartered in Corte Madera, California, where its leadership, merchandising, and creative teams are based, and it remains an independent, publicly traded business on the NYSE.

Over the past five years, RH has significantly expanded and refined its physical footprint. The company has focused on opening larger-format design galleries in major U.S. metropolitan areas and affluent suburban trade areas, often in architecturally distinctive buildings with high visibility. Many of these galleries incorporate rooftop or in-line restaurants, wine bars, and other hospitality elements, turning the stores into destinations rather than traditional showrooms. New locations such as RH Detroit, The Gallery in Birmingham, and other announced projects in key markets illustrate this strategy and signal an ongoing development pipeline.

In parallel, RH has continued to grow its Waterworks brand for kitchen, bath, and plumbing fixtures, as well as its digital businesses, including RH.com and related concepts such as RH Modern. The company has also begun to build a selective international presence through flagship galleries in gateway cities, aligning its real estate choices with high-end residential and mixed-use environments.

For landlords, brokers, and developers, RH represents a tenant that typically occupies large, high-impact spaces and invests heavily in design, architecture, and experience. Its galleries can serve as anchors in upscale retail and mixed-use projects, drawing sustained traffic throughout the day through a combination of design services, home furnishings, and hospitality offerings. The company’s ongoing investment in new galleries and international flagships, even through shifting macroeconomic cycles, reflects a long-term growth posture that is closely tied to distinctive, experience-driven real estate.