Berkshire Hathaway disclosed in a new regulatory filing that it had invested more than $200 million in the past few months in RH, the upscale furniture and home retailer that began life as Restoration Hardware
Warren Buffett may not be the most fashionable guy in the world, but he recognizes stylish furniture when he sees it.
But it does mark another home furnishings investment for Buffett, who famously has said he likes to invest in businesses he understands. Coke, Dairy Queen, See’s Candy and, more recently, Apple all attest to the strategy. For RH, however, the news is significantly more impactful. While still a minor stake in the $2.5 billion company, the Buffett seal of approval is priceless to other investors and the market in general. It’s particularly useful for a company like RH that has seen wild swings in its stock price over the years as it has re-invented itself from a mall-based retailer of mission furniture and household doodads into the leading seller of premium home furnishings in the country.
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