From Home Furnishing Business
Purple Makes Brick-and-Mortar Debut at Mattress Firm
Mattress producer Purple Technology, which has been in hyper-growth mode the past two years selling its mattresses online, is making its brick-and-mortar debut this month by launching the product in 13 Mattress Firm stores in the Washington, D.C., market.
Purple officials said additional brick-and-mortar launches will take place soon in Mattress Firm stores in the Austin, Texas, and Sacramento, Calif., markets.
"They are laser focused on helping people find a bed perfectly suited to their needs," Purple Innovation CEO Sam Bernards said of Mattress Firm. "That passion makes them an exciting distribution partner for us."
He said these Mattress Firm locations will also be the first to pilot Purple's next generation of mattresses, which will include the company's signature, super-durable Hyper-Elastic Polymer material.
This highly elastic material is designed not only to help consumers sleep better, but also optimized to disperse pressure and cradle the hips and shoulders while providing excellent support, said Bernards.
The new mattresses will also include innovatively designed, fully pocketed coils tuned to work with the patented Hyper-Elastic Polymer, and there will be several new models designed to provide personalized comfort.
"From the start, Purple has been resolute on providing the most comfortable and supportive mattresses on the market," said Bernards. "We continue to improve our mattresses to help people feel better and reduce uncomfortable pressure using our proven sleep science, which is revolutionizing the mattress industry. We're excited to roll out this new blended channel approach and to help people sleep better all over the country."
Purple recently signed a merger agreement with Global Partner Acquisition Corp., and will become a public company with an enterprise value of about $1.1 billion once the deal is closed.
According to Securities and Exchange Commission filings, the company’s revenues have grown from $65.5 million in 2016 to $77.8 million in the first half of 2017. Revenues are projected at $425 million for 2018.