Three big bedding stories close first half with a bang
Bedding Today column
David Perry -- Furniture Today, July 11, 2007
Wow! That was some week of bedding developments that brought the month of June to a close. The events of that remarkable week will reverberate through the industry for some time to come.
The week began with a significant development on the fire-resistant front: Top 10 bedding producer Therapedic announced the industry’s first FR guarantee. Therapedic said it will pay the fines or penalties levied against any retailer whose Therapedic products fail the new federal FR standard now in effect.
The company can make that offer, it said, because it has a robust FR solution and a robust FR program. Therapedic believes the new FR standard gives the industry the opportunity to sell more beds, and is giving basic information on the standard to any retailers who want it.
Comment: We would love to see other Top 10 producers take similar actions.
The next day, Simmons announced a new strategy to boost its specialty sleep business. It said it has agreed to purchase Comfor-Pedic, an innovative specialty sleep producer, and will let executives of that company head up Simmons’ new specialty products division.
Simmons Chairman Charlie Eitel recognizes that specialty sleep is not a core competency of Simmons. He is wise to bring in some passionate specialty sleep advocates and give them control of the company’s efforts in that category. The fact is, specialty sleep producers often have a missionary zeal about their products that some conventional bedding producers can’t match.
Kudos to Gerry Borreggine and the Therapedic board.
Comment: I’ve been a fan of Comfor-Pedic’s offerings and its leadership team.
The next morning, the long-awaited Spring Air roll-up was finally announced. The new Spring Air has control over about 90% of the company’s business. The new executive team is Steve Antinori, chairman; Bob Hellyer, CEO; and Jim Nation, president.
The big news there is Hellyer’s return to the bedding industry. The former president of Simmons, an experienced bedding leader, clearly had a number of options open to him. The fact that he chose Spring Air says something about that company’s growth prospects.
There is clearly much work to be done in unifying Spring Air, but the new structure brings much needed clarity to the company.
I think this acquisision could play significant dividends for Simmons.
Comment: Welcome back to the industry, Bob.
So now the second half of the year gets under way. What big news lies ahead?
You and Jim can make a powerful team.
