King Koil's McKay urges group to aim for the sensational
By David Perry -- Furniture Today, October 6, 2003
Las Vegas — When Larry McKay took over the reigns at King Koil just over two years ago, his goal was to make the bedding producer "a special company."
Now, the bar has been raised, he told the 150 King Koil licensees, suppliers and guests at the company's international meeting here.
"Good is not good enough," McKay said. "Special is not special enough. Our new vision for King Koil is to be sensational. Sensational is the goal."
King Koil began moving toward that new goal with the largest rollout of new products in its history, a new branding program with Jaclyn Smith, and the introduction of "breakthrough" marketing programs — all presented in a four-day meeting that included plenty of motivation and inspiration for the licensees, corporate staff and supplier partners.
"Today is a day of vision," McKay said. "We will change our company more today than we have in 105 years." King Koil was established in 1898.
He drew on the current business bestseller, "Good to Great," for insights, telling the group, "The enemy of great is good." Most licensees have made a good living, McKay said. "Why change?" he asked. "You've done it your way, the old way. But the old way won't work anymore. Staying the same is not an option. If you are not changing, you are getting out of the game."
McKay said the group already has gained significant respect in the marketplace. "There is a new King Koil," he said. "We are a force to be reckoned with."
He said he sees a great opportunity for King Koil to gain market share, citing a variety of problems and challenges facing a number of Top 10 bedding producers. "As we get stronger," McKay said, "we will be taking accounts away from them."
A "can do" attitude will be critical if King Koil is to change its culture, he said: "As we go from special to sensational, what is the biggest obstacle we must overcome? The biggest obstacle is you. Each and every one of you must open your mind. You must have the vision to see obstacles as opportunities. That's the key."
In his comments to the group, Dave Roberts, executive vice president, said King Koil aims to take over the industry's No. 4 position. King Koil has opportunities to gain market share, increase profitability, increase retail placements, expand product categories and widen distribution, he said.
Roberts said the new branding partnership with Jaclyn Smith, which was kept under tight wraps before the meeting and was unveiled here with much fanfare, will be one key to the company's growth. "Jaclyn will have an immeasurable impact on the image of King Koil," he said.
In her comments to the group, Smith said she is eager to work with King Koil, a company she called "the best." Her new bedding lines were previewed for the group later that afternoon. The collection will be introduced to the trade at an Oct. 16 reception at Emerywood Country Club in High Point during the International Home Furnishings Market.
The Jaclyn Smith bedding offering will encompass three different product categories, retailing from $699 to $3,499.
King Koil is expanding its bedding lineup dramatically. New lines include one with foam encasement and a high-coil-count innerspring unit with a coil-on-coil design, and another with foam encasement and individually encased coils. The flagship Perfect Contour line is also being expanded.
