Restoration Hardware Launching a Property Business?
Could Restoration Hardware be heading for real estate? MarketWatch reports the luxury furnishings retailer may someday get into the business of selling homes itself. The first hint was the listing of the St. Helena, California, home of company chief Gary Friedman, which is on the market for $10.5 million. Friedman recently found an abode closer to work, so he decided to put his previous home on the market. Beforehand, he decided to invest in a two-year remodel of the St. Helena house that's top-to-toe Restoration Hardware. Friedman personally headed up the redesign.
Total Retail's Take: While Restoration Hardware said it has no immediate plans to enter the real estate business, Friedman does refer to the St. Helena listing as the first official "RH Residence." While it seems like it could be a good fit for Restoration Hardware to get into the real estate business, I think this initial foray is just an excellent marketing ploy. Having a real world showroom of all your brand's products is a great way to generate attention — and potential purchases.