New York - P.C. Richard & Son celebrated its 100th anniversary Saturday night with 1,000 of its closest friends.
Vendors, family members and assorted guests filled a ballroom at Manhattan's Marriott Marquis to mark the milestone for the family-owned CE and appliance chain, and to support the charitable P.C. Richard & Son Foundation.
The $2,000-a-plate dinner drew a veritable who's who of industry executives, as well as musician Jon Bon Jovi who gave a private performance for the fundraiser.
In prepared remarks, president Gregg Richard, great-grandson of founder Peter Christiaan Richard, thanked his vendors, his employees and most of all his customers for their support, "without whom we wouldn't be here tonight."
Richard said the $1.5 billion company was already six days into its second century and has never been better positioned. So far this year it added six stores - all former Circuit City locations - and is about to open a seventh in Princeton, N.J., which will bring the store count to 57.
In addition, every existent store was completely remodeled within four months to present a larger assortment of TVs and gaming products and provide live, interactive PC and digital imaging displays.
Training has also been stepped up for staffers, Richard said.
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"We've invested in the business at a time when most companies were pulling back," he noted.
Richard credited his father, CEO Gary Richard, with taking the company to heights unimaginable to second-generation family head Alfred "A.J." Richard.
"We don't sell boxes," Gary Richard explained. "We sell benefits and features. And we deliver, install and service what we sell. When you're standing in front of the product, we're standing behind it. We're your daddy."