High-end Sealy, Spring Air brands enjoy double-digit sales increases in 2002
David Perry -- Furniture Today, November 23, 2003
High Point — High-end brands marketed by Sealy and Spring Air enjoyed double-digit sales gains last year, while Serta's high-end brand lost ground.
Those are the highlights of a close look at the major brands in the portfolios of three of the industry's four largest producers.
The big news at Sealy was a phenomenal year registered by the Stearns & Foster brand, up an estimated 20% to $258 million in 2002, according to Furniture/Today's market research. Sealy-brand bedding was essentially flat for 2002, while the company's Bassett Bedding was up substantially, although on a much smaller base.
Dave McIlquham, Sealy's chief executive officer, said Stearns & Foster fared especially well given the "challenging economic conditions" the industry faced last year. "Stearns & Foster's growth was particularly gratifying, since demand for luxury brands typically softens when consumer spending tightens. The confidence consumers and retail associates have in Stearns & Foster helped sustain its momentum."
Spring Air's high-end brand, Chattam & Wells, posted a 13% gain last year. The brand, marketed by some Spring Air licensees, generated sales in '02 of $34 million, according to Furniture/Today estimates.
That strong performance, coupled with an almost 9% increase in mainline Spring Air volume, according to Furniture/Today estimates, keeps Spring Air on a fast-growth track.
"We are improving our presence in the marketplace," said Jim Nation, Spring Air's president.
The only major high-end brand that suffered a sales decline last year was Masterpiece, a wholly owned subsidiary of Serta.
That brand, which targets affluent consumers through a select group of retailers, had 2002 sales of almost $18 million, compared to $24 million a year earlier.
Serta officials had forecast a strong sales year for Masterpiece in 2002, but it didn't happen.
Ed Lilly, Serta's president, said Masterpiece will bounce back.
"We expect a rebound for Masterpiece in 2003 because of its wider distribution this year, which extends beyond department stores," he said.
| Breaking out the brands | ||
|---|---|---|
| CompanyBrand2002 sales in $ millions | ||
| 1. The total sales figure for Sealy is verified by accountants. The brand breakdowns for Sealy, Stearns & Foster and Bassett Bedding are Furniture/Today estimates. 2. The total sales figure for Serta and the figure for Masterpiece are both accountant-verified numbers. 3. All Spring Air numbers are Furniture/Today estimates. |
||
| Sealy | Sealy | $817 |
| Stearns & Foster | 258 | |
| Bassett Bedding | 22 | |
| Total | $1,0971 | |
| Serta2 | Serta | $708 |
| Masterpiece | 18 | |
| Total | $726 | |
| Spring Air3 | Spring Air | $317 |
| Chattam & Wells | 34 | |
| Total | $351 | |
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