Arhaus to add four stores, enter two new markets
Clint Engel -- Furniture Today, September 5, 2013
WALTON HILLS, Ohio - Arhaus Furniture has signed four new leases that will push its store count to 51 stores in 19 states and bring the Top 100 company to two new markets.
The company said it has finalized lease agreements for stores in new markets Danbury, Conn., and Jacksonville, Fla., as well as for locations in Schaumburg, Ill., and Alpharetta, Ga., which will expand its presence in greater Chicago and Atlanta, respectively.
The announcement follows the opening of three stores earlier this year - in Houston and Austin, Texas, and Marlton, N.J. A third Texas store is under construction in new market Dallas at North Park Center on the North Central Expressway and is expected to open next summer.
"We're growing with three to seven stores annually, targeting luxury lifestyle centers located in high traffic areas and surrounded by our customer base," Greg Teed, chief financial officer of the Walton Hills, Ohio-based retailer, said in a release.
The company did not disclose its investment or projected annual sales at the new locations.
The upscale Arhaus, known for its primarily exclusive home furnishings and accents, is No. 33 on Furniture/Today's Top 100 with estimated 2012 sales of $215 million at 43 stores.
The Danbury showroom at Danbury Fair Mall on Backus Avenue will be about 19,000 square feet and is expected to open in February. The roughly 15,000-square-foot Schaumburg store at 5 Woodfield Mall will open in April and will be the retailer's fourth Chicagoarea store.
Arhaus' second Atlanta-area store is expected to opening next fall in Alpharetta at the Avalon on Old Milton Parkway; that store will be 14,500 square feet on two levels.
And in Jacksonville, the retailer will open its third Florida store at St. Johns Town Center on River City Drive. That two-level store will be 16,000 square feet.