Bedding majors respond to Sealy's departure from ISPA
David Perry -- Furniture Today, January 24, 2005
HIGH POINT -- Major bedding producers say the departure of Sealy and Serta from the International Sleep Products Assn. will have an impact on the bedding trade association.
But none of the other majors indicated immediate plans to leave ISPA, despite the loss of two producers that represent almost 40% of the bedding industry’s volume.
“At this point in time we are an ISPA member,” said Bob Hellyer, president of Simmons, the only member of bedding’s Top Three still in the association. He is a member of ISPA’s Executive Committee.
Beyond that he had no comment, saying that Simmons remains in a quiet period in connection with its interest in an initial public offering of stock.
“I don’t know where Spring Air would stand,” said Jim Nation, Spring Air president, when asked his response to the Sealy departure. “We would have to evaluate the situation. We have historically been an incredibly strong supporter of ISPA. We have seen great value that ISPA has brought to the industry. But if the nature of the organization changes, we would have to re-evaluate. ISPA won’t be the same organization without two major players.”
Therapedic President Gerry Borreggine, who is chairman of ISPA’s Better Sleep Council, said the BSC “will sorely miss Sealy’s participation at our table.”
“Not having the industry leader contribute to the work we do undermines our ability to be successful with our program,” he said. “Sealy’s absence will be significant.”
He noted that Sealy and Serta have both been long-time contributors to the Better Sleep Council throughout its 25-year history.
Borreggine said it is incumbent upon ISPA “to continually show our value to our membership. We are not here to grow any member’s business, but we do exist to grow the entire pie. And all our members, both big and small, need to recognize that.”
A letter that ISPA’s Executive Committee sent to ISPA members on Friday expressed disappointment at the departures of Sealy and Serta, and said the committee is hopeful that they will decide to rejoin the association in the future. “We wanted to give you assurances that ISPA is financially solvent and will continue to move ahead in its ongoing efforts to effectively represent the needs of the mattress industry,” the letter says.
It concludes, “We want to thank you for your continued strong support of our industry’s trade association, and we urge you to take advantage of the many resources provided by ISPA. With your continued support, we will remain a first class association, thus helping your business grow.”
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