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Kingsdown's Moves Prepare it for Growth

David Perry -- Furniture Today, December 23, 2010

Kingsdown executives Kevin Damewood, left, and Eric Hinshaw say the company has plenty of room to grow in 2011.MEBANE, N.C. - The headlines have been rolling out from Top 10 bedding producer Kingsdown here on a regular basis in recent weeks:
     ► A new California plant is set.
     ► A permanent showroom at the bedding-rich Las Vegas Market, the company's first, is on tap for January.
     ► Several former Simmons and Sealy executives have been hired.
     ► Kingsdown veteran Pat Flippin sets his retirement as president in January 2011.
     ► Lee Hinshaw, head of international sales, adds global branding responsibilities.
    And one of the biggest headlines: Former Simmons president Bob Hellyer has been named president of Kingsdown, where he is rejoining former Simmons executive Kevin Damewood, hired earlier this year as senior vice president of U.S. sales.
     The new team at Kingsdown, one of bedding's oldest producers, positions the company for a year of growth in 2011, officials say.
     Eric Hinshaw, the longesttenured CEO at any bedding major (he's been CEO since 1981), admits that 2010 has not been a stellar year at Kingsdown. "Probably for the first time we've been floating with the industry," he said. "I hate to say that."
     But the outlook for the future is bright, in his view. "Look at how much white space we have in front of us," Hinshaw said.
     He's particularly heartened by worldwide opportunities for Kingsdown, which has international offices in Bangkok, Thailand, and Tokyo, and serves retailers in more than 20 countries.
     "We look at the world," Hinshaw said. "We look at six billion people, not 300 million people (the U.S. population). Our viewpoint is more driven by a worldwide strategy than just a U.S. strategy. U.S. companies ought to be thinking about international opportunities."
     Kingsdown's international business is up 85% this year and is growing rapidly, he said.
     But several U.S.-focused growth initiatives are also in place.
     Hellyer sees domestic growth for Kingsdown and its sciencebased Sleep to Live brand, and likes the company's focus on sleep science and research.
     Hinshaw says Hellyer is "a valued industry resource" and is well positioned to lead Kingsdown successfully in the years to come.
     And Hinshaw describes Damewood, who joined Kingsdown earlier this year from Comfort Solutions, as "the No. 1 sales executive in the bedding industry in the U.S. today." Damewood and his team have plenty of open water in front of them, according to Hinshaw.
     For his part, Damewood, senior vice president of U.S. sales, describes Hinshaw as a bedding visionary. "He is always thinking four to five years out," Damewood said. "The company is very buttoned up, and the operations are the same way. They need sales leadership. I'm here to add structure. Everyone thinks I'm here to add volume. That's part of it. But I'm also here to add structure and strategy to the sales department."
     A number of the recent hires at Kingsdown have been executives who worked at Simmons. Damewood says those execs, some of whom also worked at Sealy, have the experience necessary to handle the "sophisticated" nature of the Kingsdown sale.
     "I have a great team and I'm supported by a great company," Damewood said.

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Kingsdown's moves prepare it for growth

Dec 17, 2010

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