Sit 'n Sleep

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Sit 'n Sleep, Inc.
Company typePrivate
Founded1980
Founders
  • Larry Miller
  • Phil Miller
Headquarters Gardena, California [1]
Number of locations
36 (2024)
Area served
Southern California
Key people
  • Larry Miller (CEO) [2]
  • Nelson Bercier (president) [3]
Revenue
  • Increase2.svg US$130M (2023) [2]
OwnerLarry Miller
Number of employees
220 (2023) [2]
Website www.sitnsleep.com

Sit 'n Sleep is an American mattress store chain based in Gardena, California. As of 2024, it has 36 locations, all in Southern California. [4] It is one of the largest independent mattress retailers in the United States and is also known for its extensive advertising. [2]

Contents

History

Larry Miller, one of the co-founders of the company and the face of the brand, grew up in West Los Angeles. He had many odd jobs as a teenager and helped his dad, Phil, at his convertible bed store in Culver City. [5] In 1971, the Millers traveled to Tokyo. They saw a futon and wanted to find a manufacturer in California to make them. Futons became popular in the 1980s, so the Millers, father and son, opened their first store in 1980 in Culver City. [6] It was originally known as Rivera Convertible Sofas and in its first year of business, it made US$200,000. [1] [2]

However, the futon trend quickly faded, and the store struggled. In 1982, Phil's friend, a radio station manager, suggested that, to up business, they buy an ad on the station for $25 per spot. This worked and business started slowly climbing again. [6] It experienced its first burst of popularity in the early 1990s, when it placed ads on The Howard Stern Show and television, doubling its profits. [2] [6] As the company grew, Larry wanted to expand the stores' range, but Phil did not, resulting in Larry buying the company out in 1996. The late 2000s brought a great loss in revenue for the company, as there was a large sales reduction in the mattress industry. Sit 'n Sleep's revenue fell from US$99M in 2006 to US$79M in 2008. [1]

Advertising

The company has placed advertisements since 1982. [1] [2] Many of the advertisements feature Lary Miller and his imaginary accountant Irwin, inspired by his childhood friend and the company's actual accountant. [1] Some of his famous quotes are "Sit 'n Sleep will beat anyone's advertised price or your mattress is freeee!" and "You're killing me, Larry!" [6] [7]

The company was sued in 2017 in a class action lawsuit alleging that the "mattress is free" advertisement is misleading because no other companies sell the same products. It also said that the mattresses are 9% smaller than the industry standard. [8]

Philanthropy

In 2015, Sit 'n Sleep partnered with Tempur-Pedic to donate over 250 mattresses to fire departments in Southern California as a part of Fire Prevention Week. They had previously donated 140 mattresses in 2013. [9]

References

  1. 1 2 3 4 5 Holt-Johnstone, Janet (May 30, 2013). "Retail Success Stories Part 19: Sit 'n Sleep". Furniture World Magazine. Archived from the original on December 8, 2023. Retrieved January 22, 2024.
  2. 1 2 3 4 5 6 7 Greene, Kathryn (October 19, 2023). ""Retail Rx" - How Sit 'n Sleep Increased Annual Sales from $200,000 to $130 Million". Sleep Savvy. Archived from the original on December 4, 2023. Retrieved January 22, 2024.
  3. ↑ O'Mara, Sheila Long (May 24, 2022). "Why Diamond Mattress turned to Sit 'n Sleep for new sleep collaboration". Furniture Today. Archived from the original on May 25, 2022. Retrieved January 22, 2024.
  4. ↑ "Official website". Archived from the original on January 21, 2024. Retrieved January 21, 2024.
  5. ↑ "40 Under 40 - Drew Miller, Sit n' Sleep". Furniture Today . September 5, 2022. Archived from the original on July 6, 2024. Retrieved January 22, 2024.
  6. 1 2 3 4 Li, Shan (March 25, 2012). "How I Made It: Larry Miller, Sit 'n Sleep mattress chain's CEO". Los Angeles Times . Archived from the original on December 10, 2022. Retrieved January 22, 2024.
  7. ↑ Lacter, Mark (August 10, 2010). "What happened to Irwin (aka 'You're killing me, Larry!')?". LA Biz Observed. Archived from the original on November 30, 2023. Retrieved January 22, 2024.
  8. ↑ Stone, Ken (June 28, 2017). "'You're killing me, Larry!' bed firm gets wakeup call: lawsuit on 'mattress free' vow". MyNewsLA.com. Archived from the original on July 6, 2024. Retrieved January 22, 2024.
  9. ↑ "Sit 'n Sleep and Tempur-Pedic® Donate Over 250 Mattresses to Four Southern California Fire Departments". Los Angeles Sentinel . October 8, 2015. Archived from the original on August 7, 2022. Retrieved January 21, 2024.
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