The US home décor retail market, which is worth US$ 125,813.0 million in 2019, is a rapidly growing market and is expected to reach 158,929.1 billion US dollars by 2027. The rapid urbanization and the surge in disposable income have helped in its growth to a great extent. The trend of occasional remodeling of living spaces brought more customers to the business. The highest contributor to this business is specialty stores, exclusively for home décor and furniture. A large amount of business is through specialized stores such as Pottery Barn. Let us know about ‘Pottery Barn And 12 Other Similar Brands’.
What is Pottery Barn?
Pottery Barn is an American home furnishing store chain and an e-commerce company. Pottery Barn currently has a net revenue of more than 3 billion US dollars and a total of 188 stores all over North America, and Australia. The company was founded in 1949 by brothers Paul Secon and Morris Second in West Chelsea, Manhattan. Later in 1986 William Sonoma, Inc. acquired the company. Pottery Barn is currently one of the leading brands in the home décor and furnishings market. Along with them, there are many other bigger brands in the field such as:
- Crate and barrel
- Wayfair
- Restoration Hardware
- Bed, Bath And Beyond
- The Citizenry
- World Market
- Home Goods
- Serena and Lily
- West Elm
- Target
- IKEA
- Amazon
Crate and Barrel
Another international home décor store chain is Crate and Barrel, headquartered in Northbrook, Illinois. They have more than 100 stores all over the US and Canada with 7500 employees working in these stores. Other than these direct stores they have franchise stores in all parts of Europe and Asia. Currently they have a net revenue of US$ 1.6 billion.
It was in 1962, that Gordon Segal and Carole Segal started Crate and Barrel in Chicago, intending to offer incredible home décor design for an affordable price. Even now their products are directly imported from European manufacturers. They offer Thai, Mexican, and Indian products also. It was Crate and Barrel that made the Vignette style of display of products popular all over the US. Since 1998 the company has been owned by Otto GmbH & Co KG.
Wayfair
Wayfair Inc. is an American furniture and home goods e-commerce company with over 14 million products selling through its website. The company which is headquartered in Boston, Massachusetts, has warehouses all over the US, Canada, Germany, Ireland, and the UK. It was founded by Niraj Shah and Steve Conine in August 2002 as CSN and sold media stands and storage furniture through the website racksandstands.com. it was in 2011 that CSN become Wayfair. Currently, they have a revenue of US$ 13.7 billion with a net income of US$ 131 million. Approximately 16,681 employees work for Wayfair, including 2,300 engineers.
Restoration Hardware
Restoration Hardware, currently known as RH, is an American home furnishings selling company with both online and retail stores all over the US and Canada. They have a total of 36 stores. The company, headquartered in Corte Madera, has a revenue of US$ 3.76 billion and a net income of US$ 689 million. Approximately 6500 work for RH with Gary Friedman as the CEO.
The company was started by Stephen Gordon In 1979 in California. They are an upscale company aiming at the rich market and recently they had made alterations to their agenda to go further upscale and for economically creamy layer customers. They have a full-time designer Suzi Bolognese working exclusively for RH.
Bed, Bath And Beyond
Bed, Bath And Beyond Inc. is an American chain of domestic merchandise retail stores. The company was founded in 1987 by Warren Eisenberg and Leonard Feinstein in New Jersey, US. Till 1987 the company was known as “Bed ’n Bath” and was later changed into Bed, Bath And Beyond. In 1992 June Bed, Bath And Beyond went public and now has a revenue of US$ 12.0 billion with a net income of US$ 424.9 million. Currently, New Jersey’s headquartered company has 1460 stores all over the US, Canada, Mexico, and Puerto Rico. Approximately 55,000 employees work for the company right now.
The Citizenry
American-based, home décor and furniture, the e-commerce company is The Citizenry. It was founded by two college mates Carly Nance and Rachel Bentley in 2015 to introduce more authentic and aesthetic designs into the home décor market. The company was an initiative to break out from the traditional mass-produced, non-sustainable productUK. They traveled the world and made a direct partnership with artisans from 17 countries all over the world and brought their home décor products direct to the customer through a free trade process. Unlike other traditional home décor brands, there won’t be a pile of each design, and their collections, launched twice a year, would have a single design aesthetic for each season.
World Market
World Market is an American chain of imported retail sellers in home décor, furniture, and essentials. Till 2021 World Market was known as Cost Plus World Market. The company was founded by William Amthor in 1958 in San Francisco, California. Currently, they are headquartered in Alameda with a revenue of US$ 963.8 million and a net income of US$ 16.5 million. World Market now has 258 stores all over the US, with 6127 employees. Till 2021 World Market was a subsidiary company of Bed, Bath And Beyond and later it was sold to Front Burner LP.
Home Goods
An American-based chain of home furnishing stores company is Home Goods, Inc. Home goods are owned by the JJX companies and a sister company of Marshalls. The 1992 started company currently has 814 stores all over the US and approximately 1500 employees working in all of those. Home goods generate a revenue of US$ 1.98 billion. Parent companies have home décor sores all over Europe and in many other countries. It was as a part of the expansion, they started Home Goods in the US. Home goods have a variety of collections in furniture, linens, cooking products, art supplies, and other home accessories.
Serena and Lily
in 2003 Serena and Lily, is one of the leading brands in home décor retailing. It was founded by Lily Kanter, then owner of Mill Valley Baby & kids company, along with then freelance textile designer Serena Dugan. They initially partnered for a baby line of beddings and its success led to the starting of many more collections and later the brand itself.
Till 2017 Serena Dugan herself was the exclusive designer of the brand. But later she left the company. Serena and Lily offer lifestyle brands in bedding, furniture, rugs, lighting, décor, etc. through a direct-to-customer business. The company headquartered in California, US, currently has a revenue of US$ 144.40 million and 310 employees working all over its stores.
West Elm
West Elm is an American retailer company in home furnishings. It’s a subsidiary company of William Sonoma, Inc. It was started in 2002 in San Francisco and now they are headquartered in Brooklyn, New York. Currently, they have a net revenue of US$ 5.7 billion and an e-commerce revenue of US$ 3.1 billion. Even though West Elm is a high-end furniture brand, it is known for its approachable, affordable, and sustainable, American-produced, home furnishings. They release their exclusive collections in each season, every year.
Target
Target corporation or commonly known as Target is an American big-box department store chain headquartered in Minneapolis, United States. They’re the 8th largest retailer in the US with a revenue of US$ 106 billion and a Net income of US$ 4.368 billion. Target currently has 1,931 stores all over the US and Canada with a variety of stores including discount store Target, hypermarket “Super Target”, small-format stores, etc.
Target Corporation was started by George Dayton in 1902 as a Dayton company. It was John F Geisse who came up with the idea of “Upscale discount retailing” and based on this John along with Douglas Dayton started the first Target store in 1962 in Roseville, Minnesota. Target corporation employs approximately 409,000 employees in their stores altogether.
IKEA
IKEA is a multinational conglomerate that designs and sells ready assembled furniture, kitchen appliances, and home décor along with home services. Since 2008 IKEA has been the world’s largest furniture retailer with a revenue of €41.9 billion. Currently, they have 445 stores in 50 countries including Europe, the US, Asia, North Africa, etc. IKEA was founded by a 17-year-old Ingvar Kamprad in 1943 in Sweden. The company, headquartered in the Netherlands, started its first store in the US in 1985.
The key factor about IKEA is that they are ready to assemble furniture. Rather than delivering fully assembled pieces, IKEA customers have to assemble them by themselves. This helps in a considerable reduction of cost and it also makes shipping and transportation easy with flat packages. IKEA offers good quality products at a much lower cost and also with a considerable discount. Modernist designs and eco-friendly, minimalist themes are key factors of IKEA products.
Amazon
Amazon.com, Inc. is an American multinational technology company that rules the e-commerce market. Amazon is one of the world’s most valuable brands with a revenue of US$ 469.833 billion and a net income of US$ 33.364 billion. Amazon as an e-commerce brand serves a large part of the world with 1,622,000 employees working for them. Among these 950,000 employees work in the US itself. Seattle’s headquartered company has Andy Jassy as the CEO since 2021.
Amazon was started in 1994 by Jeff Bezos in his garage in Washington. Till 1995 the company was Cadabra, Inc. and later became Amazon.com, Inc. Initially it was an online marketplace for books. And now they have a multitude of, not products, product categories. It was in 1997 that Amazon went public and now its share value is US$ 2143.00.
Conclusion
Home décor and furnishings is one of the largest businesses in the US market. The changes in the market and the society has been channelized by many home décor brands, including the established ones like Pottery Barn, Crate and Barrel, Restoration Hardware, World Market, and many this generation brands like The Citizenry, Serena and Lily, The Wayfair, West Elm, etc. Other than these traditional specialty stores, one which reaps the fruit of this change is the growing e-commerce companies. By realizing the potential of the e-commerce market many established bands have introduced their online stores recently.
