Restoration Hardware (NYSE:RH) announced the launch of RH Modern, a new retail concept geared toward selling products for the modern home. Restoration Hardware's Chairman and CEO Gary Friedman unveiled the new concept during the company's quarterly earnings video.
"RH Modern represents a fresh and compelling aesthetic that we believe will define a new way to live and redefine how to shop for modern furnishings," said Friedman.
RH Modern will launch this fall with a 300-page source book, a website and a physical store presence, including a freestanding location in Los Angeles. The brand will also take up the ground floor of Restoration Hardware's Flatiron gallery in New York City, a floor in the Design Galleries in Atlanta and also floors of stores opening this year in Chicago, Tampa, Fla., Denver and Austin, Texas. In total, RH Modern will occupy more than 120,000 sq. ft. of selling space in the first year.
Last month, the home goods retailer announced that it will build its largest U.S. store yet in Las Vegas. The location will showcase its recent RH Gallery concept, making Las Vegas the fifth store worldwide. Restoration Hardware has been scaling up in size, going from a typical 10,000 sq. ft. store to the 68,000 sq. ft. RH Gallery location in Atlanta.
-See this Restoration Hardware press release
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