Lytell buys 24 Magowitz stores
By Furniture Today Staff -- Furniture Today, August 11, 2003
Phoenix — Bedding veteran Roger Magowitz has sold his 24 Metropolitan Mattress stores here to Steve Lytell, one of the founders of Mattress Discounters.
Magowitz will retain ownership of Bedroom Eyes, a high-end, single-unit sleep shop in nearby Scottsdale, as well as the 24 Mattress Discounters stores he owns in the Virginia Beach, Va., market.
"This move gives me tons of flexibility," said Magowitz. "I want to smell the roses." And he now will have more time to spend on his remaining bedding businesses, he said.
Lytell was unavailable for comment.
Bedroom Eyes carries an exclusive line of bedding produced by Vi-Spring of Plymouth, England. Retails in king range from $10,000 to $20,000.
"We have positioned this as a Rolls-Royce product," Magowitz said. "Vi-Spring has done very well, and is ready to explode. I haven't had the opportunity to travel around the country and meet with all the people who are interested in the product."
He is looking to expand the line through retail outlets or arrangements with bedding distributors.
Magowitz said his Virginia Beach stores "are very well run," adding, "We are looking to reinforce our position there."
