Report: Restoration Hardware planning to go public in 2011
New York City Restoration Hardware plans to raise as much as $300 million in an initial public offering that would allow its private equity backers to cash in on part of their investment in the U.S. furniture retailer, according to Reuters.
The IPO is planned for the first half of next year, and will be lead by Bank of America Merrill Lynch and Goldman Sachs, the report said, and is expected to raise between $100 million and $300 million and give Restoration Hardware a market capitalization of around $1 billion, the source said.
Restoration Hardware’s plans for an IPO are still preliminary and could change, the report noted.
Private equity firms Catterton Partners and Tower ThreePartners LLC, along with Restoration Hardware CEO Gary Friedman, bought a controlling equity stake in the retail company in June 2008.
Sears.com gets what’s ‘NEXT’ in fashion
HOFFMAN ESTATES, Ill. – Sears.com announced that it has become the exclusive retailer of NEXT, a popular U.K. fashion retailer, NEXT, the U.K.’s popular fashion retailer that offers beautifully designed and high-quality apparel, shoes and accessories.
"Customers who shop our millions of offerings online, including NEXT apparel, will be able to take advantage of our online shopping experience that is truly focused on the customer and providing them with choice," said Imran Jooma, president e-commerce at Sears Holdings. "At Sears.com, we are always looking to expand and evolve our customer experience while also delivering popular items and on-trend fashions to customers. NEXT gives customers both style and affordability, so they don’t have to choose between the two."
Office Depot launches [email protected] furniture line
BOCA RATON , Fla. – Office Depot announced that it is partnering with Thomasville, one of the nation’s leading furniture brands, to launch its new and exclusive [email protected] Collection. The collection is available online at www.officedepot.com/thomasville and in select Office Depot retail stores.
The line includes two collections — vintage and trek — featuring desks, hutches, filing cabinets, bookcases and storage solutions. Products range in price from $119.99 to $499.99.
“With the challenging economic environment, and more and more people working from home, it’s critical to offer a functional, quality and affordable furniture option, and that’s exactly what Office Depot is doing,” said Lee Pell, SVP merchandising for Office Depot. “Joining with Thomasville has allowed us to offer high-quality furniture pieces at a sensible cost.”