Clarification: Restoration Hardware-Rebranding
CORTE MADERA, Calif. (AP) — In a story, Sept. 17, about Restoration Hardware rebranding itself as RH, The Associated Press omitted the first name and title of Gary Friedman on the first reference. A clarified version of the story is below:
Restoration Hardware is rebranding itself as RH, as the home furnishings retailer leaves its nostalgia-based roots behind and focuses instead on high-end furnishings.
"RH enhances our identity and moves us beyond our hardware store beginnings," CEO Carlos Alberini said in a statement. "It enables us to leverage our core capabilities of innovation, curation and integration of new ideas and businesses."
The company, based in Corte Madera, Calif., is several years into a turnaround. Restoration Hardware was losing money when it was bought by a private equity firm in in 2008. It has since redesigned stores, revamped its product line and focused on a higher-end market that harkens to pre-recession era retailer. The company recently filed plans for an initial public offering.
"The new branding positions us for the future and reflects our belief that we can curate a lifestyle beyond the four walls of the home," said Gary Friedman, creator and curator for the company. Friedman previously served as chairman and co-CEO.
The company said the new branding results from a collaboration between Marc Shillum, a principal at San Francisco based Method, designer Robert Valentine and Friedman.
The new branding will debut on the cover of the company's fall 2012 catalogs and on its website beginning the first week of September.