Restoration Hardware's Founder Moves to Sundance
Restoration Hardware chairman Stephen Gordon resigned from the company he founded yesterday to become the new CEO of Sundance Catalog Co.Gordon helped build Restoration Hardware, Corte Madera, CA, into a multichannel marketer of home furnishings, bath fixtures and decorative hardware with more than 100 stores and a thriving catalog and Internet business. The company is expected to post revenue of about $500 million for 2004.
In July, private equity firms ACI Capital, New York, and Webster Capital, Boston, acquired majority ownership of Sundance, Salt Lake City, from Robert Redford in a deal valued at $20 million to $40 million. Redford reportedly remains active in the operation of the catalog.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters
