Therapedic sets 2014 goals at annual meeting
David Perry -- Furniture Today, December 4, 2013
MANALAPAN, Fla. - Top 10 bedding producer Therapedic finds itself in a good place in a consolidating bedding industry, according to the company's CEO. And that is to be the first alternative to the big brands.
Gerry Borreggine, celebrating 10 years at the helm of Therapedic, provided an upbeat overview of the group's prospects at its international annual meeting, held at the Eau Palm Beach Resort & Spa here.
Addressing 75 licensees and suppliers, Borreggine said Therapedic has enjoyed four consecutive growth years since the recession of 2008 and has added key licensees domestically and around the world.
"This year is our biggest increase," he said. "We are on a roll. We have a growing brand, a strong team and an industry that recognizes what we have to offer and wants to be part of it. Our goal is to provide the track for you to grow."
Borreggine said Therapedic is reinforcing its positioning as "the No. 1 brand alternative" to the major brands. "When retailers say they can't get what they want from the big guys, we want Therapedic to be their first choice," he said.
Therapedic's well-known top-of-bed offerings, available at retailers around the country, are introducing the Therapedic name to mattress customers, Borreggine continued.
And he said the "lean and mean" corporate team has initiatives in place to support Therapedic licensees around the clock.
"Our brand is in the perfect spot - in the middle of the market," Borreggine said. "We are ahead of the secondary brands. When we go up against the big guys we can play small ball, being nimble. But we can play long ball against the smaller guys. We have 24 international factories, something the other guys don't have. We need to leverage that strength."
Gerry Borreggine addresses the Therapedic meeting.
Therapedic's goal next year is to "grow the distance between us and the next guy who wants to be us," Borreggine said.
On the domestic front, Therapedic upgraded its presence in California with a new licensee last year, and a strong licensee in Florida has boosted the brand's growth in recent years. Also, the company's Idaho licensee is expanding its commitment to the Therapedic brand, according to Borreggine.
On the international front, Therapedic has added licensees in India, Egypt, Turkey, Israel and Colombia, he said.
Marty Galex, second from right, was recognized at the Therapedic meeting as the first Therapedic licensee signed by the charter Therapedic factory. His plant in Rock Island, Ill., became a Therapedic licensee in 1958. Therapedic members Norman Rosenblatt, left, Gerry Borreggine, and Jeffrey Sherman, the current operator of the Rock Island licensee, saluted Galex on his years of service to the group.
Therapedic CEO Gerry Borreggine, center, welcomes Muddaiser, left, and Emtiaz Ahmed, both of Therapedic India, to the group.
Roberto Zilber, left, and Dan Marcipar, both of Polyran, were recognized by Therapedic President Gerry Borreggine as the group's new licensee in Israel.
Laurie Simpson, left, and Susan Mathes, Therapedic; Ellyn Small, Steinreich Communications; and Sheryl Friedman, Therapedic.
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