– 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
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
Training has also been stepped up
for staffers, Richard said.
“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.”