In RH’s first quarter 2024 report to Wall Street, CEO Gary Friedman tried to put a positive spin on otherwise depressing news – the lipstick-on-a-pig metaphor comes to mind.For years, Friedman has defined the long-term vision for RH to “climb the luxury mountain,” but it reached its peak in fiscal 2021 with revenues of $3.8 […]
Archive | Furniture
RSS feed for this sectionWhy Lovesac Keeps Winning While Other Furniture Brands Falter
As the furniture industry reels from a dramatic drop in consumer demand, Lovesac overcame market headwinds to report 7.5% growth in revenue in fiscal year 2024, reaching $700 million from $651 million the previous year.Lovesac’s advance is remarkable, given that furniture retail revenues dropped 5.7% in 2023 to $75.2 billion from an historic high of […]
In A Challenged Luxury Furniture Market, Arhaus Swims Against The Tide
Furniture retailers got an unwelcomed surprise last year. After advancing 24% from 2019 to 2022 – rising from $64.2 billion to $80 billion – sales dropped nearly 6% to $75.3 billion in 2023. But that’s nothing compared to the decline in the high-end luxury furniture market. Some of the weaker companies, like Mitchell Gold + […]
Ralph Lauren Home May Return To Its Glory Days With New Luxury Furniture Partner Haworth
Ralph Lauren has signed a long-term agreement with the family-owned, Michigan-based Haworth Lifestyle Design group to expand the production and distribution of Ralph Lauren’s luxury furniture business.Starting on April 1, 2024, Haworth will do the heavy lifting in product development, sourcing, manufacturing, product marketing and wholesale account management for the brand’s line of Italian-made furniture.Most […]
Crate And Barrel’s New Store Showcases A New Brand Identity
Crate and Barrel just opened a new flagship store in the Flatiron District’s historic Palace of Trade building. Set on two floors in a 23,000 sq. ft. space at 881 Broadway, the building’s neoclassical architectural elements serve as a perfect backdrop to showcase Crate and Barrel’s modern home furnishing designs.It’s a store that demands to […]