I mean if you’re going to invent something new and scale something new, it means it hasn’t been done before. So, it can take longer, it’s going to be bumpier. And it’s the difference between leading a business, managing a business, invention and innovation versus duplication. So, — and so I think we’re going to go through the same thing with temporary. It’s taken longer to scale this stuff. I mean we just got back from the quarries in Italy, meeting some of the best families and quarry owners and building partnerships for stone. And so we can make stone furniture at scale and we can have better economics and a better supply chain. We — I mean, I don’t know, two weeks ago, we went around the world for 10 days. I think we were in seven countries or something like that and — in the factories and meeting with the factory owners and talking about scaling not only what they’re scaling up now, but what’s coming next, which is — I mean, you’ve just seen the first little introduction of Contemporary.
When you see what happens next year, it’s extraordinary and revolutionary. I mean I think it’s going to be — we’re going to own this entire kind of esthetic and look and be no different than how we approach 2008, 2009, when we took kind of the European Belgian kind of aesthetic and we went out there and owned it and did it at scale. And it became kind of the RH Look in the industry. And then we didn’t just dabble and modern. We launched with a 450-page book or something like that. 545-page book, yes, 545-page book. And you have bumpiness on getting the supply chain up on both of those, by the way, but we wind up building a $1 billion business at a Modern. I think Contemporary is going to be the most extraordinary thing we do. So, you’ve seen like the first kind of — the first course of the meal.
There’s, call it, a four-course meal. And next year, there’ll be two more big courses and there’ll be another big course in 2024. And by 2024, I think we’ll have it rounded out. But it’s going to be — I think it’s going to be the most extraordinary thing we’ve ever done. So, we’re really excited about it. I wish we had more goods right now, which we could roll it out to more galleries right now. But so far, every dollar we put it in, there’s been really good response, and we’re really excited about getting into more galleries.
Max Rakhlenko: Awesome. Thanks a lot Gary, Jack, Allison. Happy Holidays everyone. Speak soon.
Gary Friedman: Happy Holidays Max.
Operator: Our next question comes from the line of Curtis Nagle from Bank of America. Please proceed.
Curtis Nagle: Great. Thanks very much for taking. So, maybe kind of one longer term question then a quick model one. So, first, Gary, I’d love to talk about the acquisitions and kind of how much the step-up you’re high in trade and interior design business for us kind of a little less than a no and how big an opportunity from a revenue perspective, you could see? And then just as a follow-up, I just wanted to clarify that comment, kind of loosely made about 20% margin next year if you pull back investments, maybe I misheard, but just if you could clarify what you were talking about there?
Gary Friedman: Yes, I think — yes, as you think about the high-end design and trade, how big is the revenue opportunity. The people at the very top of the mountain own the most homes, not only do they own the most homes, the homes are more expensive. On average, someone spends about 10% of the home costs on furnishings, decor and art, right? So when they buy nicer homes, they buy nicer furniture. They furnished the whole house. They have multiple houses. And so that’s the most lucrative part of the business. It will be the most profitable part of the business. It has the most leverage. You make the most money there. So we think it’s really important strategically. And we went out and met who we believed had the best reputation and quality and design in upholstery and the same in kind of case goods and furniture.
