Latest Trade Change -- Pricing Previous Close. Today's High. Today's Low. Shares Out MIL. Market Cap MIL. Latest Developments More. About Williams-Sonoma, Inc. Industry Retail Specialty. Executive Leadership Scott A. Dahnke Independent Chairman of the Board. Marta Benson President - Pottery Barn brand. Key Stats 2. Return on Investment TTM. Return on Equity TTM. Williams-Sonoma Inc. WSM , a household name in America for high-end kitchenware and modern furnishings, started out as a small hardware store in Sonoma, California.
Company founder Chuck Williams first moved to Sonoma in , where he began working as a contractor and fell in with a group of friends who shared his love of cooking. A trip to Europe in was the catalyst that transformed his passion into a vocation. During his travels, Williams was introduced to classic French cooking equipment unlike anything he had seen back in America.
One year later, he purchased a hardware store in downtown Sonoma, and soon after transformed it into a shop specializing in French cookware. Thus, Williams-Sonoma was born. Since then, the company has expanded to sell high-end items for the home of all kinds. Benefitting from the changes in dining and food culture during the '60s and '70s, Williams-Sonoma continued to expand in size. The company caught the eye of entrepreneur Howard Lester, who then purchased the company with a friend in and assumed the role of Chief Executive Officer CEO.
In , Williams-Sonoma raised financing through an initial public offering IPO to accelerate its expansion. Williams-Sonoma today sells furnishings and decorative accessories for every room in the home. Williams-Sonoma has used acquisitions to complement its internal growth, although not all of them have been successful. In , for example, it ventured into retail gardening by purchasing Gardener's Eden, a catalog company that sells plants, tools, and accessories.
Williams-Sonoma sold it in We take a look at three of these acquisitions in more detail below. The company provides sales breakdowns for some, but not all of these deals. Pottery Barn was established in as a home furnishings retailer focused on offering products marked by exceptional comfort, quality, style, and value.
Williams-Sonoma purchased the company from Gap Inc. GPS in At that time, Pottery Barn had about 21 stores located mainly in Manhattan, where they sold a limited range of products. The Pottery Barn and parent Williams-Sonoma brands have been built on a reputation for selling high-quality products. Rejuvenation, whose manufacturing and distribution facilities are located in Portland, Oregon, specializes in made-to-order lighting fixtures.
Outward is an enterprise technology startup founded in in San Jose, California. The company offers 3-D imaging and augmented reality specifically geared toward digital applications for the home furnishings and decorative accessories industry. Applications using augmented reality add virtual images to the viewer's field of vision, as opposed to virtual reality, which completely immerses the viewer in a virtual world cutoff from the real physical world.
Williams-Sonoma acquired Outward in in an all-cash purchase. Williams-Sonoma, however, is in a sweet spot in the market, poised to ride out any change in consumer spending patterns better than most. It has a broad range of brands and cuts across both decorative and functional home products.
It has two smaller divisions—light fixture and hardware brand Rejuvenation and monogrammed handbag and gift purveyor Mark and Graham —that could have enormous upside potentials for growth given their small sizes now. And its e-commerce capabilities are far and away best in class and should continue to attract shoppers even when they venture back into stores. Williams-Sonoma was born when an amateur cook named Chuck Williams began selling imported cookware from France.
Investor Howard Lester bought the company and brought working capital, sophisticated analytics and management. And Alber has taken it all to the next level, even as much of the rest of the retailing world is stumbling around looking for answers. Warren Shoulberg is the former editor in chief for several leading B2B publications. His Retail Watch columns offer deep industry insights on major markets and product categories.
BOH Insiders unlock access to weekly designer classes and exclusive Insider-only workshops. Is Williams-Sonoma the best-positioned retailer in home? By Warren Shoulberg. Want to stay informed? Ikea is raising prices, a Herman Miller lawsuit and more.
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