CORTE MADERA, CA- Restoration Hardware Holdings Inc.'s Carlos Alberini is resigning from his role as co-CEO of the furniture and hardware retailer effective Jan. 31, to instead become the CEO and chairman of apparel firm Lucky Brand.

According to the statement, Alberini will continue serving on Restoration Hardware's Board of Directors and remains a significant shareholder of the company.

The announcement was made as Restoration Hardware (NYSE:RH) recorded a net revenue increase of 39% for the third quarter fiscal which ended Nov. 2.

Alberini shared the CEO post with Gary Friedman. “On behalf of myself, the board and the entire RH team, I want to express our deepest thanks to Carlos for the numerous contributions he has made as co-chief executive officer. His leadership has been invaluable, and we are delighted with his continuing service as a member of our Board of Directors,” Friedman, chairman and co-CEO said in a statement.

Plans are underway to find a replacement for Alberini's position, Friedman added.

"Leaving RH has been one of the most difficult decisions I have ever made in my career," Alberini said in the statement. "Gary and I have built an extraordinary relationship, which I treasure and will miss. These past few years with Gary and the RH team have been extremely rewarding and fulfilling and I am so proud of our accomplishments. I am honored and thrilled that I will continue to have the opportunity to serve on the Board, and plan to remain a significant shareholder in what I believe will be recognized as one of the greatest retail stories of all time.”