The Richardson family story began in the late 1800s when Lunsford Richardson invented Vicks Vaporub and later evolved that business into the international Fortune 250 company, Richardson-Vicks, Inc.

Over the years, the family’s businesses and philanthropic interests have had significant impact locally, state-wide, nationally and internationally. 

Richardson Properties was formed as a spin-off from Richardson Corporation which for decades was the Richardson family’s real estate and financial services company. Richardson Corporation was founded in 1921 and originated as an extension and continuation of the real estate investment interests of Richardson-Vicks, Inc.

Initially Richardson Corporation engaged in the business of real estate investments and management of properties owned by it and members of the Richardson family.

At various times since formation, Richardson Corporation engaged in the real estate brokerage business, the operation of department stores, the insurance agency business, property management, land development, and residential and commercial construction and development.

Richardson Properties is wholly-owned by the Richardson family (defined as the descendants of Lunsford [d. 1919] and Mary Lynn Richardson).

The family has owned controlling interests in a number of large publicly-traded companies including Richardson-Vicks, Inc. (a Fortune 250 company acquired by Proctor & Gamble in 1985); Vanguard Cellular Systems, Inc. (acquired by AT&T in 1999); and Lexington Management Corp. (acquired by ING in 1999), as well as a number of private companies.

Organized around its family office, which was founded in 1928, and its successor, the first private trust company established in North Carolina, the family owns a number of entities that, like Richardson Properties, pool family money for joint investments.

Richardson’s real estate developments and investments in recent decades have been dispersed throughout the Carolinas and Virginia as it has pursued new developments in areas of growth. Its goal is to be involved in great locations with high-quality real estate improvements that result in solid long-term investments for the Company and the Richardson family.