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RH is a leading retailer and luxury lifestyle brand primarily operating in the home furnishings market. The company offers curated and fully integrated assortments across multiple categories, including furniture, lighting, textiles, bathware, décor, and outdoor and garden products. RH integrates hospitality experiences into its operations, enhancing its brand presence and customer engagement.
- Furniture - Offers a wide range of indoor and outdoor furniture collections, including RH Interiors, RH Contemporary, RH Modern, RH Outdoor, RH Baby & Child, and RH TEEN, focusing on unmatched design and quality.
- Non-Furniture - Provides lighting, textiles, fittings, fixtures, surfaces, accessories, home décor, and hospitality operations, enhancing the overall lifestyle experience.
- Waterworks - Specializes in luxury bath, kitchen, and lighting products, contributing to the company's diverse product offerings.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Gary Friedman ExecutiveBoard | Chairman and Chief Executive Officer | None | Gary Friedman joined RH in April 2001 and transformed it into a leading luxury brand with revenues exceeding $3 billion. He has held various leadership roles within RH. | |
Edward Lee Executive | Chief Legal & Compliance Officer | None | Edward Lee joined RH in October 2012 and became Chief Legal & Compliance Officer in March 2019. He previously worked at MGM Resorts International. | |
Eri Chaya Executive | President, Chief Creative and Merchandising Officer | None | Eri Chaya joined RH in July 2006 and has held various creative leadership roles, currently overseeing product curation and brand creative. | |
Jack Preston Executive | Chief Financial Officer | None | Jack Preston has been the CFO since March 2019, overseeing financial functions and other teams at RH. He previously worked at Bank of America Merrill Lynch. | |
Stefan Duban Executive | Chief Gallery & Customer Officer | None | Stefan Duban has been with RH for 24 years, starting as a sales associate and rising to Chief Gallery & Customer Officer. | |
Ali Rowghani Board | Director | Managing Director at YCombinator Continuity Fund | Ali Rowghani has been a director since January 2015, with experience in scaling companies like Twitter and Pixar. | |
Hilary Krane Board | Director | Chief Legal Officer at Creative Artists Agency, Director at Federal Reserve Bank of San Francisco, Portland Branch | Hilary Krane has been a director since June 2016, with extensive experience in legal and business roles at Nike and Levi Strauss. | |
Katie Mitic Board | Director | CEO and Co-Founder of SomethingElse, Inc., Board Member at TCV Acquisition Corp. | Katie Mitic has been a director since October 2013, with a background in leadership and entrepreneurship in technology companies. | |
Leonard Schlesinger Board | Director, Chairman of the Compensation Committee | Director at DataPoint Capital Acquisition Corporation, Director at View Point Holdings | Leonard Schlesinger has been a director since April 2014, with leadership experience at L Brands and Babson College. | |
Mark Demilio Board | Lead Independent Director | SCP Health (Board Member), Spinnaker Medical (Consultant) | Mark Demilio has been on RH's Board since September 2009, bringing expertise in accounting, finance, and strategic planning. |
- Given that your significant investments have depressed margins and you're now saying most of these investments are behind you, can you provide more clarity on the timeline for margin recovery and what level of operating margins we should expect in the next few years?
- With the new product transformations driving substantial demand growth despite a depressed housing market, how confident are you that this momentum is sustainable, and what strategies do you have to maintain growth when the housing market recovers and competitors may respond?
- You've mentioned a significant brand extension worth over $1 billion that addresses the biggest part of the market; can you elaborate on this initiative, including which categories it will cover and how it fits within your current brand positioning?
- Clearance activity has been elevated due to your product transformation, impacting margins; how do you plan to manage markdowns going forward, and when do you expect clearance levels and margins to normalize?
- You've decided not to renew leases in Germany, resulting in non-cash charges; can you explain the strategic rationale behind exiting these locations now, and how does this decision impact your broader international expansion strategy in Europe?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Dmitriy & Co | 2022 | Acquisition Purpose: Dmitriy & Co, a To-the-Trade custom upholstery atelier, was acquired to launch RH Couture Upholstery, aligning with RH’s strategy to enhance its luxury offerings; founders Donna and David Feldman were hired to lead the initiative. |
Jeup, Inc. | 2022 | Deal Details: Jeup, Inc., a To-the-Trade custom bespoke furniture workroom, was acquired on December 8, 2022 to support RH’s transformation in the luxury home furnishings market, with founder Joseph Jeup brought on board to establish RH Bespoke Furniture. |
Recent press releases and 8-K filings for RH.
- RH provided clarifications on the reciprocal tariffs announced on April 2, 2025, noting that its sourcing shift to Vietnam and its own North Carolina factory has mitigated the impact of the long-standing 25% tariffs from China.
- The company reported an 18% net revenue increase in the fourth quarter (on a 13‐week comparable basis) and a 19% increase in RH Brand demand in January, reflecting strong market performance despite challenging conditions.
- RH introduced a free cash flow outlook for fiscal 2025 in the range of $250M to $350M, highlighting its positive financial guidance amid market volatility.
- Q4 Performance: GAAP net revenues reached $812M with a 10% increase, while adjusted operating income improved by 57% on a comparable 13‐week basis and by 38% GAAP .
- Brand Demand Growth: Elevated brand demand surged by 21% on a comparable 13‐week basis .
- Full-Year Guidance: For FY2025, RH forecasts 10-13% revenue growth with strong operating and EBITDA margins .
- Fiscal 2024 Highlights: Net revenues hit $3.181B (up 5%), with GAAP net income of $72M and adjusted net income of $107M .
- Strategic Expansion: Continued investments in new Design Galleries and international retail platforms, alongside inventory optimization and tariff management .