Just plowed through the enormous RH catalogue (formerly Restoration Hardware) with the insufferable letter from the CEO, Gary Friedman. And then it struck me: Gary Friedman with his oversized stores and ridiculous catalogues is the doppleganger of Mike Jeffries, the equally ego-centric and pompous former CEO of Abercrombie & Fitch. (In picture above, Jeffries and A&F are on the left while Friedman and RH are 3 pictures on the right.)
If RH is still in existence in 5 years – in this incarnation – I will be shocked. The format is insane. I can’t even imagine the overhead associated with these gigantic stores and where is the market for this humongous Vegas-style furniture? A couple of years ago Friedman also opened an art gallery in NYC that I have never heard a single art world person mention. Soon there will be hotels and restaurants and an apparel line. Hopefully, whoever is holding the purse strings will wake up before the whole thing goes belly-up.