Beard Watson & Co was renowned in Sydney as a retailer and manufacturer of high-class furnishings for the home. The company was founded in 1889 when the furnishing business of Mark Albery & Co was taken over by partners William Henry Beard (1842-1903), James Henry Watson (1841-1934) and James Kebblewhite (1864-1930). Initially Beard Watson focused on the retail of carpets, floor coverings and furnishing fabrics from its premises at 361 George Street. However, in 1901 the company broadened its scope when it acquired the business of quality furniture manufacturer Walker, Sons and Bartholomew. Shortly after this date, it appears that William Beard and James Watson left the business.

Furniture became a central feature of Beard Watson's business in the early decades of the 20th century, demonstrated by a series of catalogues produced in this period. A 1917 article in The Australian Manufacturer stated of Beard Watson that the "furniture it sells, and particularly the furniture it produces, is distinguished at once for its good workmanship and for its artistic beauty." At this time, the factory in the inner-Sydney suburb of Redfern employed more than 150 workers in all areas of furniture manufacture.

Beard Watson was taken over by hardware retailer Nock and Kirby in 1959, but the firm continued to trade under its own name. The company opened branch stores in Wollongong, Canberra (1955), and the Sydney suburbs of Gordon (1957) and Dee Why (1963). In order to combat less than successful sales at its Sydney city store, in 1964 the fifth floor of its six-storey building was turned over to an 'economy furniture section' to broaden its customer base. Then in 1966, the city building was sold to insurance giant AMP with the bottom three floors leased back by Beard Watson, halving the size of the original store. Hampered by poor sales and high rents, the city store finally closed in early 1973. In May 1973, electrical and furniture retailer Sydney Wide opened its 28th branch on the site of Beard Watson's George Street store.