In a summary of its Q3 results, US home furnishings retailer RH (Restoration Hardware) has reported the strongest two-year growth in its history (net revenues were up +19% to $1.006b YoY, and up 49% Yo2Y).
RH also further outlined its international expansion plans. 2022 will see the establishment of RH England, with a gallery store at Aynhoe Park, a 73-acre estate designed in 1615 by English architect Sir John Soane, "that will introduce RH to the UK in a dramatic and unforgettable fashion".
Additionally, RH has secured locations for galleries in London, Paris, Munich and Dusseldorf, and is in lease or purchase negotiations for galleries in Milan, Madrid, Brussels and France.
"Our plan to open immersive design galleries in every major market will unlock the value of our vast assortment, generating revenues of $5-6b in North America, and $20-$25b globally," states RH.
Next year will also see the retailer launch the RH Contemporary brand ("the most meaningful new product launch in our history"), plus the expansion of its RH Interiors and RH Modern lines and the growth of its Residences division.