Rug & Home opens third store, retailer’s largest
-- Home Accents Today, 4/27/2010 7:47:00 AM
Rug & Home, a rug and interiors retailer with stores in Asheville, N.C., and Gaffney, S.C., recently opened a store in Kannapolis, N.C., in a 96,000-sq.-ft. building
formerly occupied by Target.
The new location, at 3333 Cloverleaf Parkway, is Rug & Home’s third and largest store. It opened to the public on April 9 and followed with a grand opening celebration on April 23.
“We were looking at the Charlotte market for a long time,” said Aanchal Agarwal, Rug & Home’s chief operating officer. “Kannapolis’ close distance from Charlotte’s city center and Greensboro, along with the opportunity it presented us to renovate and occupy the abandoned building, proved the perfect fit for us.”
Owner Rakesh Agarwal echoes his daughter’s sentiment. “Expanding in this economic climate has certainly been challenging,” he said, “But, as the 
availability of the premium space shows, it has also provided us with unique business opportunities that we may not have had otherwise.”
While both Agarwals call the Target building renovation a “relatively simple turnkey operation,” they said the company’s biggest expense was a complex rack system to hang the store’s thousands of rugs. Sixty-five rug racks were installed in total. To offset the upfront costs, last year the Kannapolis City Council approved an incentive grant that will rebate 85% of the property taxes for three years.
The Kannapolis store will be known officially as Rug & Home Wholesale Outlet. “Providing exceptional pricing and value for the customer has always been our main focus,” Aanchal Agarwal said. “With our increased buying power, we’ll be able to provide discounts we never have before at all three of our locations.” 
Response to the new store during the two-week soft opening has been extremely positive, said Rakesh Agarwal, and the store has been fully stocked with more than 50,000 items, including rugs, furniture, artwork and home accessories.
Rug & Home, founded by owners Rakesh and Dolly Agarwal in 1995, was named runner-up for the 2009 N.C. Small Business of the Year Award. Owners Rakesh and Dolly Agarwal with their daughter, Aanchal Agarwal, COO, are shown in the photo at right.
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