Brian McGough, head of retail at Hedgeye, joins the podcast to discuss the state of the retail sector, hit a wide variety of names, and explain why he's so bearish on the sector currently. This podcast is
Nice summary - I think it is brave to assume European's will care for RH product - its a bit like trying to sell Cadillac cars in UK/EU - just does not work. The real lux buyers will buy proper lux furniture from Italy/UK/Germany not this aspirational lux and the middle class simply do not have enough money for the RH price points so will not buy it and will stick to much cheaper local mass market brands. RH remains in a difficult place - massive beneficiary of Covid pull forward and excess disposable on stuff and housing boom - if you expect tougher times this is going to look ugly. Also its just not proper lux- B&B Italia etc is proper lux this is the Michael Kors of furniture
Nice summary - I think it is brave to assume European's will care for RH product - its a bit like trying to sell Cadillac cars in UK/EU - just does not work. The real lux buyers will buy proper lux furniture from Italy/UK/Germany not this aspirational lux and the middle class simply do not have enough money for the RH price points so will not buy it and will stick to much cheaper local mass market brands. RH remains in a difficult place - massive beneficiary of Covid pull forward and excess disposable on stuff and housing boom - if you expect tougher times this is going to look ugly. Also its just not proper lux- B&B Italia etc is proper lux this is the Michael Kors of furniture
excellent.