Williams-Sonoma, Inc.

Last updated

Williams-Sonoma, Inc.
Company type Public
NYSE:  WSM
S&P 400 Component
Industry Retail [1]
Headquarters3250 Van Ness Avenue
San Francisco, California, U.S.
Number of locations
625 (2018 [2] )
Key people
Brands
Revenue$8.24 billion (2021 [5] )
$1.45 billion (2021 [5] )
$1.12 billion (2021 [5] )
Total assets $4.62 billion (2021 [5] )
Total equity $1.66 billion (2021 [5] )
Number of employees
28,200 [6]  (2019)
Website williams-sonomainc.com

Williams-Sonoma, Inc. is an American publicly traded consumer retail company that sells kitchenware and home furnishings. [7] It is headquartered in San Francisco, California, United States. [8] The company has 625 brick and mortar stores and distributes to more than 60 countries, with brands including Williams Sonoma, Williams Sonoma Home, Pottery Barn, Pottery Barn Kids, PBteen, West Elm, Mark and Graham, and Rejuvenation. [9] [10] Williams-Sonoma, Inc. also operates through eight corresponding websites and a gift registry. [11]

Contents

The company is one of the largest e-commerce retailers in the U.S., [7] and one of the biggest multi-channel specialty retailers in the world. [9] In 2019, Williams-Sonoma, Inc. was named as a Fortune 500 company for the first time in its history. [12]

History

Post Street Store Front Post Street Store Front.JPG
Post Street Store Front

Williams-Sonoma, Inc. had its initial public offering in July 1983. One million shares were offered on the OTC Market at $23 a share. [13] At the end of 1985, the company was generating over $51 million in sales. [13] In September 1986, Williams-Sonoma, Inc. acquired Pottery Barn from Gap. The acquisition included Pottery Barn's 27 housewares stores located in California, Connecticut, New Jersey, and New York for $6 million. [14] The company's expansion led to the opening of its first distribution center in Memphis, Tennessee, in 1984. Williams-Sonoma, Inc. was one of the largest proprietary distributors in the Memphis area with 3.5 million square feet of distribution space. [15]

From 1986 to 1989, Williams-Sonoma, Inc. grew by an average of 12 stores per year, bringing the total locations to over 100 stores in the U.S. It was listed on the New York Stock Exchange starting in 1998, while sales reached $1 billion for the first time. [16]

The following year, Williams-Sonoma, Inc. launched its e-commerce websites. [17] [18] The company also launched Pottery Barn Kids, a spin-off of Pottery Barn that specializes in home furnishings for children. [19]

The Pottery Barn brand further expanded with the launch of PBteen in early 2003. Pottery Barn extended its merchandising with the introduction of the Pottery Barn Bed & Bath and Pottery Barn Kids in Manhattan. [20]

By 2009, Williams-Sonoma, Inc. was operating 610 stores with an annual revenue of over $3 billion. In May 2010, Lester retired, and Laura Alber was named CEO of the umbrella organization. Alber joined the company in 1995. She was active in building the Pottery Barn catalog and the development and launch of Pottery Barn Kids and PBteen. [21] In November 2011, the company acquired Portland, Oregon-based Rejuvenation, a manufacturer and direct marketer of light fixtures and hardware with stores in Portland, Seattle, and Los Angeles. [22] The company launched a lifestyle brand offering personalized products, Mark and Graham, in November 2012. [23]

Williams Sonoma's e-commerce sales were approximately 52 percent of its parent company's revenue of the first quarter of 2015. [24]

The West Elm brand was launched in 2002 with the release of a catalog; [25] the following year, the brand opened its first store. [26] Through the West Elm brand, the company launched West Elm Hotels. [27] The joint venture with DDK hospitality management and development company [27] has locations in Detroit, Michigan, Indianapolis, Indiana, Minneapolis, Minnesota, Oakland, California and Savannah, Georgia.

The West Elm brand is active with the Clinton Global Initiative and in 2013 agreed to invest $35 million on hand made goods from U.S. and abroad to sell in its stores over the course of two years. The collaborations were aimed to positively impact over 4,000 artisan workers. [28] Former President Bill Clinton visited a West Elm showroom after the company spent nearly that amount in the first year of the agreement. [29] In 2015, the company made a pledge at the Clinton Global Initiative Annual Meeting to expand its Fair Trade Certified product offerings. [30]

International presence

World location map (equirectangular 180).svg
Flag of Australia.svg
Australia
Flag of Bahrain.svg

Bahrain
Kuwait
Qatar
UAE
Flag of Canada.svg
Canada
Flag of India.svg
India
Flag of Kuwait.svg
Flag of Mexico.svg
Mexico
Flag of Qatar.svg
Flag of South Korea.svg
South Korea
Flag of Saudi Arabia.svg
Saudi Arabia
Flag of United Arab Emirates.svg
Flag of United States.svg
USA
Flag of the United Kingdom (1-2).svg
UK
Williams-Sonoma Inc. stores, geographic presence worldwide
The preserved facade of the former University Theatre in Toronto, which was the site of the first Canadian stores of Pottery Barn and Williams Sonoma from 2001 to 2017 University Theatre.JPG
The preserved façade of the former University Theatre in Toronto, which was the site of the first Canadian stores of Pottery Barn and Williams Sonoma from 2001 to 2017
Stores of 3 Pottery Barn brands operated by El Puerto de Liverpool in the Polanco neighborhood of Mexico City Pottery Barn main-kids-teen stores, Polanco, Mexico City.jpg
Stores of 3 Pottery Barn brands operated by El Puerto de Liverpool in the Polanco neighborhood of Mexico City
CountryFranchiseeNumber of stores
Jan. 2024
Sources
Pottery
Barn
P. B.
Kids
West
Elm
Williams-
Sonoma
Flag of Australia (converted).svg  Australia 6672 [31] [32] [33] [34]
Flag of Canada (Pantone).svg  Canada 5 ? ?5 [35]
Flag of India.svg  India 334 [36] [37]
Flag of Mexico.svg  Mexico El Puerto de Liverpool 78104 [38]
Flag of the Philippines.svg  The Philippines SSI Group Inc.2220 [39]
Flag of South Korea.svg  South Korea Hyundai Livart Furniture Co. Ltd. [40] 45114 [41] [42] [43] [44]
Flag of the United Kingdom.svg  United Kingdom Corporate0020 [45]
Middle East [46] [47] [48] [49]
Flag of Bahrain.svg  Bahrain M.H. Alshaya Co. 111
Flag of Kuwait.svg  Kuwait 1121
Flag of Qatar.svg  Qatar 221
Flag of Saudi Arabia.svg  Saudi Arabia 447
Flag of the United Arab Emirates.svg  UAE 5551

Canada

In October 2001, the company opened its first international stores in Toronto, Ontario, Canada. [50] The Williams-Sonoma and Pottery Barn stores in Yorkville occupied a combined 37,000 square feet of space at the retail podium of the 100 Bloor Street West condominium; these stores closed in 2017 after the landlord substantially raised rents in 2014. [51]

Latin America

In 2008, the company opened Pottery Barn and West Elm stores at Plaza Las Americas in Hato Rey, Puerto Rico, a district of the capital San Juan. [52]

For Mexico, in 2014, El Puerto de Liverpool, which operates two nationwide department store chains (Liverpool) and Suburbia, signed a franchise agreement to operate stores and e-commerce sites for six brands. [53] Brand covered are Williams-Sonoma, Pottery Barn, Pottery Barn Kids, PB Teen, West Elm.

Middle East

West Elm store signed in English and transliteration into Arabic alphabet, Riyadh Park, Saudi Arabia Riyadh Park mall West Elm.png
West Elm store signed in English and transliteration into Arabic alphabet, Riyadh Park, Saudi Arabia

In 2010, Williams-Sonoma, Inc. partnered with M.H. Alshaya Co. to launch Pottery Barn and Pottery Barn Kids franchise operations in the Middle East. [10] The first Williams-Sonoma brand store outside of North America opened in Kuwait in 2012, along with West Elm at The Avenues Mall, the largest shopping center in Kuwait.

Europe

The company opened its first store in the United Kingdom in 2014 with the launch of its West Elm location in London. [54]

Asia Pacific

Williams-Sonoma, Inc. opened four stores (Williams-Sonoma, Pottery Barn, Pottery Barn Kids, and West Elm) in Australia in 2015 as the first retail locations outside of North America owned and operated by Williams-Sonoma, Inc. [10]

In the same year, the company also opened Pottery Barn and Pottery Barn Kids stores with a franchise partner in the Philippines. [55]

Brands

Under the umbrella organization of Williams-Sonoma, Inc., the company's brands are: [11]

Controversies

In March 2020, the Federal Trade Commission (FTC) announced a settlement with Williams-Sonoma, Inc. over false advertising claims where Goldtouch Bakeware products, Rejuvenation-branded products, and Pottery Barn Teen and Pottery Barn Kids-branded upholstered furniture products were falsely advertised as being made in the USA. As part of the settlement with the FTC, Williams-Sonoma, Inc. agreed to stop making false, misleading or unsubstantiated "Made in USA" claims and is required to pay $1 million to the FTC. [56] [57]

See also

Related Research Articles

<span class="mw-page-title-main">Bath & Body Works</span> American retailer

Bath & Body Works, LLC. is an American retail store chain that sells soaps, lotions, fragrances, and candles. It was founded in 1990 in New Albany, Ohio and has since expanded across six continents. In 1997, it became the largest bath shop chain in the United States.

Pottery Barn is an American upscale home furnishing store chain and e-commerce company, with retail stores in the United States, Canada, Mexico and Australia. Pottery Barn is a wholly owned subsidiary of Williams-Sonoma, Inc.

<span class="mw-page-title-main">British Home Stores</span> Former British department store chain

British Home Stores, commonly abbreviated to BHS and latterly legally styled BHS Ltd, was a British department store chain, primarily selling clothing and household items. In its later years, the company began to expand into furniture, electronics, entertainment, convenience groceries and fragrance and beauty products.

<span class="mw-page-title-main">West Elm</span>

West Elm is a retail store that features contemporary furniture designs and other housewares. It is a wholly owned subsidiary of Williams-Sonoma, Inc. There are currently stores in the United States, Canada, Mexico, Australia, United Kingdom, Saudi Arabia and the United Arab Emirates. Customers are able to shop in-store, online, or through a catalog by telephone. The larger products such as sofas and beds are only displayed in stores for customers to see and feel in-person, likening West Elm to a pure catalog/online retail company.

<span class="mw-page-title-main">Crate & Barrel</span> International home decor company

Euromarket Designs Inc., doing business as Crate & Barrel, is an international furniture and home décor retail store headquartered in Northbrook, Illinois. They employ 8200 employees across over 100 stores in the United States and Canada, with franchises in Central America, South America, Asia and United Arab Emirates.

<span class="mw-page-title-main">RH (company)</span> American home furnishings company

RH is an upscale American home-furnishings company headquartered in Corte Madera, California. The company sells its merchandise through its retail stores, catalog, and online. As of August 2018, the company operated a total of 70 galleries, 18 full-line design galleries, and 6 baby-and-child galleries. The company also has 36 outlet stores in the United States and Canada.

<span class="mw-page-title-main">El Puerto de Liverpool</span> Mexican retail, financial and real estate company

El Puerto de Liverpool is a Mexican company that consists of commercial, financial, and real estate operations.

<span class="mw-page-title-main">Monique Lhuillier</span> Filipino fashion designer (born 1971)

Monique Lhuillier is a Filipino fashion designer and creative director known for her bridal, ready-to-wear and lifestyle brand. She launched her eponymous brand in 1996 and has since established fashion houses in Los Angeles, California, where she primarily works and lives, as well as in Manhattan's Upper East Side.

<span class="mw-page-title-main">The Avenues (shopping mall)</span> Shopping mall in Jacksonville, Florida

The Avenues is a two-level regional shopping mall located on the southside of Jacksonville, Florida, and opened in 1990 on the Interstate 95 corridor, and is off exit 339 at the intersection of U.S. 1 and Southside Boulevard. The mall, managed by Simon Property Group, which manages 25% of it, has a parking deck on the northwestern side. Its anchor stores are Belk, Dillard's, Forever 21, and JCPenney. Other stores located at the mall include Aldo, H&M, LOFT, BoxLunch, Build-A-Bear Workshop, MAC, LUSH Fresh Handmade Cosmetics, Pandora, and Le Macaron French Pastries.

<span class="mw-page-title-main">Fair Oaks Mall</span> Shopping mall in Fairfax County, Virginia

Fair Oaks Mall is a shopping mall in the Fair Oaks census-designated place (CDP) of unincorporated Fairfax County, Virginia, just northwest of the independent city of Fairfax. It is located at the intersection of Interstate 66 and U.S. Route 50. The mall has a gross leasable area (GLA) of 1,557,000 sq ft (144,700 m2). The mall features the traditional retailers Macy's, Macy's Furniture Gallery, JCPenney, Dick's Sporting Goods and Dave & Buster's. The mall also features prominent specialty retailers such as Apple, MAC Cosmetics, Ardene, Pottery Barn, Miniso, Windsor, Sephora, and Williams Sonoma.

<span class="mw-page-title-main">Eastern Shore Centre</span> Shopping mall in Spanish Fort, Alabama

Eastern Shore Centre is a 540,000-square-foot (50,000 m2) lifestyle center located at the intersection of Malbis Parkway and Interstate 10 in Spanish Fort, Alabama, United States, a suburb of Mobile. A landscaped perimeter road, Eastern Shore Boulevard, connects the lifestyle and power center components of this hybrid regional center. An apartment community, The Arlington at Eastern Shore Centre, was developed in the northeastern section of the complex. Eastern Shore Centre is Baldwin County's first large-scale, multi-anchored regional shopping center and the first lifestyle center to open in South Alabama.

Hold Everything was a specialty retail chain in the United States that sold home organization and storage solutions. Its parent company, Williams-Sonoma, Inc., closed the chain's 11 existing stores in 2006.

<span class="mw-page-title-main">MarketFair</span> Shopping mall in West Windsor, New Jersey

MarketFair is a shopping mall in West Windsor, New Jersey, with a Princeton mailing address. With a gross leasable area of 240,000 square feet (22,000 m2), the mall is located along U.S. Route 1, between New York City and Philadelphia. About 83,000 cars pass by every day. The anchor stores are AMC Theatres, Eastern Mountain Sports, Jos. A. Bank, Pottery Barn, LensCrafters, and Barnes & Noble.

W. Howard Lester was an American businessman who took over Williams-Sonoma, Inc. in 1976 and acquired Pottery Barn in 1986, building a major catalog retailer that had more than 600 stores and annual sales of $3.4 billion by the time of his death.

<span class="mw-page-title-main">Alshaya Group</span> Kuwaiti company

Alshaya Group is a multinational retail franchise operator headquartered in Kuwait. It operates nearly 70 consumer retail brands across the Middle East and North Africa, Turkey, and Europe. In addition to its retail operations, the Alshaya Group has holdings in real estate, construction, hotels, automotive and general trading, largely centred in the Middle East.

<span class="mw-page-title-main">Laura J. Alber</span> American businesswoman (born 1968)

Laura J. Alber is an American businesswoman who in 2010 became the CEO of Williams-Sonoma, Inc.

<span class="mw-page-title-main">Kate Spade New York</span> American fashion design house

Kate Spade New York is an American luxury fashion house founded in January 1993 by Kate and Andy Spade. In 2017, the company was purchased by Tapestry, Inc., formerly known as Coach, Inc.

Gary Friedman is the chairman and chief executive officer of home furnishings retailer Restoration Hardware, Inc.

Thomas O'Brien is an American interior and home furnishings designer. His design firm, Aero Studios, and home store, Aero Ltd., are both based in New York City's SoHo neighborhood.

Williams Sonoma is an American retailer of cookware, appliances, and home furnishings. It is owned by Williams-Sonoma, Inc. and was founded by Charles E. (Chuck) Williams in 1956.

References

  1. "Corporate Information -Business Profile". Williams-Sonoma, Inc. Retrieved November 9, 2015.
  2. "Number of stores of Williams-Sonoma worldwide 2009-2018". Statista. Retrieved March 6, 2020.
  3. "Shopping catalogs making a comeback". CBS News. March 19, 2015. Retrieved November 9, 2015.
  4. "Executive Biographies". Williams-Sonoma, Inc. Retrieved November 8, 2013.
  5. 1 2 3 4 5 "Williams-Sonoma, Inc. announces record fourth quarter and fiscal year 2021 results".
  6. "Williams-Sonoma Number of Employees 2006-2019". www.macrotrends.net. Retrieved March 6, 2020.
  7. 1 2 Lee, Thomas (April 3, 2015). "Williams-Sonoma is America's best retailer — online and in store". San Francisco Chronicle. Retrieved November 9, 2015.
  8. Flynn, Ryan (May 3, 2011). "Williams-Sonoma whips up new strategy". Seattle Times. Retrieved November 9, 2015.
  9. 1 2 "Laura Alber will become CEO of Williams-Sonoma in May". Furniture Today. January 27, 2010. Retrieved March 6, 2020.
  10. 1 2 3 Frojo, Renée (November 30, 2012). "Williams-Sonoma accelerating global growth". San Francisco Business Times. Retrieved November 9, 2015.
  11. 1 2 "Williams-Sonoma, Inc. Company Profile". Hoovers. Retrieved November 4, 2015.
  12. "Williams-Sonoma, Inc. Named to the Fortune 500 List of America's Largest Companies". www.bloomberg.com. May 16, 2019. Retrieved March 6, 2020.
  13. 1 2 Fisher, Lawrence M. (July 30, 1986). "A Store for the Gourmet Cook". New York Times. Retrieved November 10, 2015.
  14. Palley, Robin (September 16, 1986). "Pottery Barn Sold To Calif. Firm". Philadelphia Daily News. Retrieved November 10, 2015.
  15. Miller-Morton, Kate (November 2, 2003). "Williams-Sonoma eyes Pattillo center". Memphis Business Journal. Retrieved November 10, 2015.
  16. "Williams-Sonoma expands". San Francisco Business Times. June 2, 1998. Retrieved November 10, 2015.
  17. Hillebrand, Mary (June 17, 1999). "Williams-Sonoma, Epicurious Make Recipe for Online Sales". Tech News World. Retrieved November 10, 2015.
  18. Tedeschi, Bob (November 1, 1999). "E-Commerce Report; All that some retailers want before Christmas is a functional site". New York Times. Retrieved November 10, 2015.
  19. Koncius, Jura (March 23, 2000). "Targeting Tweens- Retailers are Homing In on the Next Generation". Washington Post. Retrieved November 10, 2015.
  20. Rohrlich, Marianne (November 9, 2006). "Currents:Who Knew?; Bed and Bath and Children's Stores Expand Pottery Barn's Domain". The New York Times. Retrieved November 10, 2015.
  21. Tong, Vinnee (January 26, 2010). "Williams-Sonoma says longtime CEO Lester to retire". Boston.com. Retrieved November 10, 2015.
  22. Francis, Mike (November 4, 2011). "Williams-Sonoma buys Portland's Rejuvenation Inc., plans growth". The Oregonian. Retrieved November 4, 2011.
  23. "Williams-Sonoma, Inc. Announces the Launch of New Lifestyle Brand, Mark and Graham". BusinessWire. November 8, 2012. Retrieved November 10, 2015.
  24. "Williams-Sonoma, Inc. announces first quarter 2015 results Net revenues grow 5.8% with comparable brand revenue growth of 4.6%". MarketWatch. May 20, 2015. Retrieved November 10, 2015.
  25. Fulmer, Melinda (July 16, 2005). "New Store Chain Is Hoping Everyone Will Feel at Home". Los Angeles Times. Retrieved November 10, 2015.
  26. Combs, Heath E.; Sloan, Carole (December 8, 2003). "Williams-Sonoma launches West Elm store in Brooklyn". Furniture Today. Retrieved November 10, 2015.
  27. 1 2 Arnott, David A. (September 26, 2016). "West Elm bets its brand will draw guests to a new hotel chain". American City Business Journals .
  28. Hickman, Matt (September 26, 2013). "8 Handsome Home Goods From The West Elm Handcrafted Collection". Mother Nature Network. Retrieved November 1, 2015.
  29. Berfield, Susan (June 20, 2014). "In Charitable Checkup at West Elm, Bill Clinton Rubs Some Fair-Trade Rugs". Bloomberg. Retrieved November 1, 2015.
  30. Azzato, Maureen (October 1, 2015). "West Elm Pledges 40 Percent Fair Trade Assortment by 2019". Home Furnishings News. Retrieved November 1, 2015.
  31. "Store Locations | Pottery Barn Australia". www.potterybarn.com.au. Retrieved January 19, 2024.
  32. "Store Locations | west elm Australia". www.westelm.com.au. Retrieved January 19, 2024.
  33. "Store Locations". www.potterybarnkids.com.au. Retrieved January 19, 2024.
  34. "Store Locations". www.williams-sonoma.com.au. Retrieved January 19, 2024.
  35. "Store-Locations | Williams Sonoma". www.williams-sonoma.ca. Retrieved January 19, 2024.
  36. "Store Locator". West Elm India. Retrieved January 19, 2024.
  37. "Store Locator". www.potterybarn.in. Retrieved January 19, 2024.
  38. "Store Locator". www.williams-sonoma.com.mx. Retrieved January 19, 2024.
  39. "Pottery Barn Kids". SSI Life. Retrieved January 19, 2024.
  40. "History", Hyundai Livart Furniture Co. Ltd., accessed 20 January 2024
  41. "매장안내" [Store Finder]. Pottery Barn Korea (in Korean). Retrieved January 19, 2024.
  42. "매장안내" [Store Finder]. Pottery Barn Kids (in Korean). Retrieved January 19, 2024.
  43. "매장안내" [Store Finder]. West Elm Korea (in Korean). Retrieved January 19, 2024.
  44. "매장안내" [Store Finder]. Williams Sonoma Korea (in Korean). Retrieved January 19, 2024.
  45. "Store Locations". West Elm UK. Retrieved January 20, 2024.
  46. "Pottery Barn". Alshaya. Retrieved January 19, 2024.
  47. "Pottery Barn Kids". Alshaya. Retrieved January 19, 2024.
  48. "West Elm". Alshaya. Retrieved January 19, 2024.
  49. "Williams-Sonoma". Alshaya. Retrieved January 19, 2024.
  50. Saddleton, Lucy (October 22, 2001). "TAXI imprints Williams-Sonoma top-drawer status". Strategy. Retrieved November 10, 2015.
  51. "Williams Sonoma Exits Mink Mile Ahead of Hermès Relocation". RETAIL INSIDER. Retrieved February 15, 2019.
  52. Frances, Ryan (August 2, 2007). "west elm also coming to Plaza Las Americas". Vol. 35, no. 30. Caribbean Business. p. 7.
  53. Brohan, Mark (October 3, 2014). "Williams-Sonoma takes its e-commerce operation south of the border". Internet Retailer. Retrieved November 10, 2015.
  54. Harrison, Nicola (April 26, 2013). "US homewares giant Williams-Sonoma to land in UK with West Elm store on Tottenham Court Road". Retail Week. Retrieved November 10, 2015.
  55. Frojo, Renée. "Gap, Williams-Sonoma open in Philippines". San Francisco Business Times. Retrieved November 10, 2015.
  56. Kreidler, Jim (April 1, 2020). "Williams-Sonoma: Made in the USA?". Federal Trade Commission. Archived from the original on April 4, 2020. Retrieved May 23, 2020.
  57. Joseph J. Simons, Chairman. "Complaint" (PDF). ftc.gov. Federal Trade Commission. Archived (PDF) from the original on April 4, 2020. Retrieved May 23, 2020. The acts and practices of Respondent as alleged in this complaint constitute unfair or deceptive acts or practices in or affecting commerce in violation of Section 5(a) of the Federal Trade Commission Act.