Magniflex takes on U.S. market with Soho store
By David Perry -- Furniture Today, June 10, 2007
New York — Magniflex, Italy's largest mattress producer, has taken a big step here with the opening of its first U.S. store in Manhattan's trendy Soho district. If it does well, more could follow here and in key markets across the country.
The company's unique assortment of mattresses, some of which are covered with exotic ticking fashioned from gold and silver fibers, brings a fresh offering to the U.S. bedding scene, company officials believe.
"We have comfort you can't find in the U.S.," said Marco Magni, global sales director, who has traveled extensively in the United States and attended the store opening here earlier this year. "We are doing something different."
In an interview at company headquarters in Prato, Italy, Magni admitted Magniflex faces a big test in the U.S. market.
"The United States is a very strategic market," said Magni, one of three brothers who run the company, which was founded over 50 years ago. "If you can succeed in the U.S., you can succeed anywhere in the world."
The family's name is pronounced MAN-ni, with a silent "g," and the company is MAN-ni-flex.
About 20 million people in 45 countries sleep on Magniflex mattresses; 80% of its output is exported. Key international markets include Japan, Spain, Germany and Russia.
The company believes the time is right to bring its better sleep message to this country. A successful launch in Soho could bring additional Manhattan stores, said Magni. Other cities he said offer potential are Miami, Chicago, Los Angeles and San Francisco.
The New York store features eight mattress models, including the new GeoEthic, a soy-based organic mattress. Retails for mattresses generally are from $1,299 to $3,999 in queen. The store also carries a full range of Italian linens under the Casa Poggesi brand.
Magniflex makes mostly foam bedding, with an eclectic mix of products topped by the flagship, $24,000 retail, 22-carat gold model, which has a matching 22-carat gold pillow retailing at $1,000.
The company says its Memofoam visco-elastic technology will relieve pressure faster than competitors' models, using weight sensitivity rather than body heat to provide conformity.
And it says its Airyform technology allows for better air circulation, promoting a cooler sleep surface.
Magniflex entered the U.S. market last year, but takes a new step with its store at 59 Crosby St. here. The company already operates stores in Tokyo, Dubai and Florence, and will open another soon in Singapore.
The company has a major retail presence in Italy, with 45 Materassi & Materassi (Mattresses & Mattresses) stores, most operated by franchisees. By the end of next year, the company hopes to have 100 stores in Italy.
Henry Burney and Irwin Pearl, two U.S. sales veterans, are developing Magniflex's U.S. dealer network and are working with a dozen U.S. sales representatives to build the brand.
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