Former Wal-Mart exec new co-owner of New York retailer

New York -- A former executive from Wal-Mart Stores has joined up with a real estate executive to expand New York City-based luxury home décor retailer Gracious Home.



Dottie Mattison who served in a variety of executive roles from 2006 to 2010 at Wal-Mart, including senior VP and general manager of the apparel global merchandising center and chief merchant of Walmart.com, has teamed up with David Mitchell to buy a majority stake in Gracious Home for an undisclosed price. Mattison will serve as CEO and Mitchell as chairman.



The new team plan said it plans to invest significantly in the future of Gracious Home, including enhancing customer service, providing expanded resources for the design community, and expanding the company’s e-commerce site, which grew by over 50% in the past year. Currently, Gracious Home has four locations in New York City.



“Being able to lead a strong, beloved consumer brand such as Gracious Home is a dream come true for me,” said Mattison who most recently served as a senior managing director at Guggenheim Partners, a global investment management and advisory firm. “As the luxury home market continues to thrive, we see many exciting opportunities to build on Gracious Home’s devotion to quality, exquisite taste and exceptional service.”



The new chairman, David Mitchell, is president of Mitchell Holdings LLC, a New York-based investment and real estate development company.



Gracious Home filed for Chaper 11 bankruptcy protection in 2010, and was bought by investment group Americas Retail Flagship Fund, which will retain a minority stake in the company.