Sharper Image history

In 1978, he incorporated his mail order business, calling it The Sharper Image, and the following year, he compiled his product line in a lavish, glossy mail order catalog.

US distribution of the first Sharper Image monthly catalog began in 1979.

In 1981, the company reported revenues of $28 million and profits of $1.4 million.

1982: Revenues exceed $50 million.

In less than ten years, circulation of the catalog hit 42 million catalogs in 1984, with sales reaching $87 million.

In 1985, 12 stores were introduced in such urban centers as New York, St Louis, and Honolulu.

As new The Sharper Image retail outlets emerged, the costs they incurred, as well as markedly slower sales, contributed to a first quarter loss of $72,000 in 1987.

Increased competition from department and electronics stores, as well as an unfavorable currency exchange rate, which led to low profit margins on goods manufactured in Asia, contributed to the company's mounting losses, which were reported at $2 million in September 1988.

By the end of 1989, the company's earnings had fallen to $4.7 million, despite sales of $209 million that represented a ten percent increase over the previous year.

By 1990, however, the company's popularity and profitability dropped dramatically, prompting The Sharper Image to widen the scope of its retail operations to include less expensive merchandise that would appeal to a new, broader customer base.

In the spring of 1991, the company's merchandise buyer was let go, and Thalheimer returned to a more active role in the business.

In April 1992, The Sharper Image began to market its products through mall carts, inexpensive, freestanding units, which required only one employee.

In January 1994, the company joined with five other retailers and media giant Time Warner Inc. to launch a new 24-hour cable shopping channel.

Sales were $188.5 million in 1995, producing a profit of $3.7 million.

Sales increased to $204.2 million in 1996, while profits, hammered by rising paper costs, fell 88 percent to $444,000.

Revenues in 1997 were $210 million, little changed from eight years earlier.

The Home Collection was pulling in $10 million a year by 1998.

Within an eight month time frame in 1999, sharperimage.com online sales grew from $7-$31M with Meredith Medland Sasseen as Director of Global Internet Division.

Online sales reached $60 million in 2000.

Years later, on April 22, 2002, Richard and several members of his executive team were invited to the New York Stock Exchange to ring the opening bell.

The Sharper Image had more than 140 stores in 2003 and was opening two dozen stores a year.

The chain began experiencing “steady sales declines,” in 2004, according to its bankruptcy filing.

In April of 2005 an outside equity fund from New York City, Knightspoint Partners, announced they had bought 12% of the company’s public stock in open market purchases.

In June of 2006, the board came together to appoint the third board seat to Jerry Levin, who had quite a reputation as CEO at Sunbeam Corporation and Revlon.

They expected that by December of 2007, their new approach would produce positive results, and the all important fourth quarter would see a robust sales and earnings result.

Sharper Image said it had $251.5 million of assets and $199 million of debts as of January 31, 2008, according to the filing.

In 2009, Camelot Venture Group secured the rights to operate a new Sharper Image catalog and website, sharperimage.com.

In 2011, Iconix Brand Group bought the Sharper Image brand and took control of all licensing relationships, while Camelot Venture Group continued to operate the catalog and website.

In June 2014, Camelot Venture Group acquired the rights to the US direct-to-consumer division of the brand (catalog and e-commerce) from Iconix Brand Group.

In April 2018, Camelot Venture Group appointed Lance Reese as CEO.

In 2019, ThreeSixty Group relaunched Sharper Image with new logos, styling, slogans (including Tomorrow’s Tomorrow℠), and a refreshed product assortment.

Years later, in December of 2020, Richard released his second book as a #1 Best Seller on Amazon called, Sharper Image Success: Business Lessons from America’s Gadget Guy.