Gary Friedman is seen as a luxury retail guru, transforming a little-known US homeware brand into a multi-billion dollar company.
So what is the story behind his success?
Who is Gary Friedman?
Gary Friedman is the CEO and chairman of the luxury interior retailed RH.
Born in San Francisco, California on August 6, 1957, he was raised by his mother after his father died when he was just five years old.
Friedman started his carer at the popular clothing brand Gap, working as a stock boy while studying at a community college.
When he was kicked out of the university in his first year, the American made his job at Gap full-time. Over a period of 12 years, he rapidly made his way up the pecking order of the firm.
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Enjoying success at the company, Friedman became Gap’s youngest-ever district manager and then their youngest regional manager, overseeing 63 stores in southern California.
He worked at the company until 1988 when he joined Williams-Sonoma Inc, a kitchenware and home furnishings company. Over a 13-year career there he served in various capacities
Between 1992 and 2000 he served as chief merchandising officer and Director of Retail Stores for both Williams-Sonoma and a subsidiary brand called Pottery Barn.
He was credited with taking Pottery Barn from a $50 million business to one making more than $1 billion a year.
Following his success in the role, he then served as Williams-Sonoma Inc’s president and chief operating officer from May 2000 to March 2001.
It was after this that Friedman made the career move that would go on to define him. In 2001 he was appointed as co-chief executive officer of Restoration Hardware – since renamed to simply RH.
When he joined, Restoration Hardware made $369.5 million a year in net sales.
Just 20 years later, in 2022 RH had a revenue of $3.76 billion.
Friedman was responsible for a complete overhaul in the brand offering of RH, moving it away from a company that sells cheap household items and turning it into a global luxury brand.
It now sells items such as marble entry tables and works of art, with each item costing thousands of dollars to buy.
Firmly aimed at millionaire shoppers, Friedman sought to change the shopping experience. Each outlet bas integrated restaurants, wine vaults, and even barista bars.
Explaining his thinking, he said a few years ago: “Most people shop for furniture once every 10 to 20 years.
“But we eat every day, so by having people come eat with us—if we have inspiring design and compelling product, they might say, ‘This is beautiful.’
“But if they never saw it, they never would have thought about it.”
In 2023, the success of RH in America even gave Friedman the confidence to open up a store in England.
Taking over a 17th-century mansion in the middle of the Oxfordshire countryside, RH purchased a 73-acre estate that has been used for celebrity weddings and birthday parties.
RH England’s grand opening was attended by celebrities including Ellen DeGeneres and Regé-Jean Page.
What is Gary Friedman’s net worth?
Gary Friedman is thought to be worth $1.3 billion.
It puts him in the top 2,500 richest people in the world.
Friedman owns a 10 per cent stake in RH, making up a lot of his wealth. He also has options that could lift his share to 28 per cent.