Toman plans to reposition Restonic
David Perry -- Furniture Today, April 18, 2004
INDIANAPOLIS — Restonic's new president and CEO sees some openings for his company in a bedding industry that recently saw some of its largest players sold in huge deals.
"We are not a Wall Street company," said Kevin Toman, who spent decades in the bedding industry before leaving the field two years ago. "Restonic is a local company that can meet (a dealer's) shipping and distribution needs and give them a good markup."
Toman returned to bedding and took over as president of Restonic on April 1. He succeeds Ed Scott.
As he surveys the dynamic bedding landscape these days, Toman believes a period of major change is at hand.
"The industry is in a change environment," he said. "Every six or 10 years we go through a major upheaval. I see some major financial issues out there. I believe we can take Restonic and reposition it."
Toman described Restonic as "a local company with a national presence."
The financial changes in the industry can benefit Restonic, in Toman's view.
"This is a small, cottage industry," he said. "People get upset being managed by these major Wall Street players. Eventually, that bubble has to burst."
Restonic's licensees "are solid niche players," Toman said. They have the ability to be flexible on a local basis, he added.
His growth strategy for Restonic is to look first at the company's existing dealer base.
"We can grow market share with existing customers if we can give them the tools to do it," he said. "We can help them grow in their markets."
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