W. Howard Lester
Encyclopedia
W. Howard Lester was an American businessman who took over Williams-Sonoma
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.
and worked in a series of jobs before enrolling at the University of Oklahoma
. He dropped out of college and was drafted and served in the United States Army
; he completed his degree after leaving military service.
Following a series of careers, including working for IBM
, Lester founded an employment agency. By 1976, Lester built and sold a computer software company he had established and was looking for another prospective business opportunity. A friend told him about Williams-Sonoma, and Lester analyzed the business for months in detail. The company had been established in 1956 in Sonoma, California
and had grown to four stores. Its catalog business had grown substantially under the guidance of Edward Marcus, and the firm's founder Chuck Williams
was looking to move on after Marcus died in 1976. Lester said that "I felt like I could run it better" and together with partner James McMahan bought the company for $100,000 and the assumption of $700,000 in debt, at which point the company was generating $4 million in annual revenue. Lester worked as the company's chief executive officer and initially focused on building the company's catalog sales. He focused on finding prime locations in malls starting in the 1980s at a pace of five new stores per year. Lester used his computer expertise to oversee the design of a database that tracked the buying habits of its 4.5 million customers. In 1986, Lester acquired Pottery Barn
, a division of Gap
that had sales of $6 million at its 25 stores. Lester stepped down as the company's chairman in the months before his death, by which time Williams-Sonoma and its network of catalogs had grown to 600 stores and annual sales of $3.4 billion.
Lester's contributions helped create the Lester Center for Entrepreneurship and Innovation at the University of California, Berkeley
's Haas School of Business
.
A resident of Indian Wells, California
, Lester died at the age of 75 on November 15, 2010, due to cancer. He was survived by his wife, Mary, as well as by a daughter, a son and five grandchildren.
Williams-Sonoma
Williams-Sonoma, Inc. is a high-end American consumer retail company that sells kitchenwares, furniture and linens, as well as other housewares and home furnishings, along with a variety of specialty foods, soaps and lotions...
in 1976 and acquired Pottery Barn
Pottery Barn
Pottery Barn is an American-based home furnishing store chain with retail stores in the United States, Canada and Puerto Rico. Since September 1986, when it was purchased from GAP, Inc, Pottery Barn is a wholly owned subsidiary of Williams-Sonoma, Inc....
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.
Biography
Lester was born on August 14, 1935, in Durant, OklahomaDurant, Oklahoma
Durant is a city in Bryan County, Oklahoma, United States. The population was 15,877 at the 2010 census. Durant is the principal city of the Durant Micropolitan Statistical Area, which had a population of 42,416 in 2010...
and worked in a series of jobs before enrolling at the University of Oklahoma
University of Oklahoma
The University of Oklahoma is a coeducational public research university located in Norman, Oklahoma. Founded in 1890, it existed in Oklahoma Territory near Indian Territory for 17 years before the two became the state of Oklahoma. the university had 29,931 students enrolled, most located at its...
. He dropped out of college and was drafted and served in the United States Army
United States Army
The United States Army is the main branch of the United States Armed Forces responsible for land-based military operations. It is the largest and oldest established branch of the U.S. military, and is one of seven U.S. uniformed services...
; he completed his degree after leaving military service.
Following a series of careers, including working for IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
, Lester founded an employment agency. By 1976, Lester built and sold a computer software company he had established and was looking for another prospective business opportunity. A friend told him about Williams-Sonoma, and Lester analyzed the business for months in detail. The company had been established in 1956 in Sonoma, California
Sonoma, California
Sonoma is a historically significant city in Sonoma Valley, Sonoma County, California, USA, surrounding its historic town plaza, a remnant of the town's Mexican colonial past. It was the capital of the short-lived California Republic...
and had grown to four stores. Its catalog business had grown substantially under the guidance of Edward Marcus, and the firm's founder Chuck Williams
Chuck Williams
Charles E. Williams is the founder of the Williams-Sonoma company and author and editor of dozens of books on the subject of cooking.-Early life:...
was looking to move on after Marcus died in 1976. Lester said that "I felt like I could run it better" and together with partner James McMahan bought the company for $100,000 and the assumption of $700,000 in debt, at which point the company was generating $4 million in annual revenue. Lester worked as the company's chief executive officer and initially focused on building the company's catalog sales. He focused on finding prime locations in malls starting in the 1980s at a pace of five new stores per year. Lester used his computer expertise to oversee the design of a database that tracked the buying habits of its 4.5 million customers. In 1986, Lester acquired Pottery Barn
Pottery Barn
Pottery Barn is an American-based home furnishing store chain with retail stores in the United States, Canada and Puerto Rico. Since September 1986, when it was purchased from GAP, Inc, Pottery Barn is a wholly owned subsidiary of Williams-Sonoma, Inc....
, a division of Gap
Gap (clothing retailer)
The Gap, Inc. is an American clothing and accessories retailer based in San Francisco, California, and founded in 1969 by Donald G. Fisher and Doris F. Fisher. The company has five primary brands: the namesake Gap banner, Banana Republic, Old Navy, Piperlime and Athleta. As of September 2008,...
that had sales of $6 million at its 25 stores. Lester stepped down as the company's chairman in the months before his death, by which time Williams-Sonoma and its network of catalogs had grown to 600 stores and annual sales of $3.4 billion.
Lester's contributions helped create the Lester Center for Entrepreneurship and Innovation at the University of California, Berkeley
University of California, Berkeley
The University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
's Haas School of Business
Haas School of Business
The Walter A. Haas School of Business, also known as the Haas School of Business or simply Haas, is one of 14 schools and colleges at the University of California, Berkeley....
.
A resident of Indian Wells, California
Indian Wells, California
Indian Wells is a city in Riverside County, California, in the Coachella Valley , in between Palm Desert and La Quinta. As of the 2010 census, the city population was 4,958....
, Lester died at the age of 75 on November 15, 2010, due to cancer. He was survived by his wife, Mary, as well as by a daughter, a son and five grandchildren.