 | This article contains content that is written like an advertisement .(September 2019) |
 | |
| Company type | Brand |
|---|---|
| Industry | |
| Founded | July 19, 2012 |
| Founders |
|
| Headquarters | , U.S. |
Number of locations | 7 stores (2018) |
Area served | United States |
| Products | Mattresses |
| Revenue |  $170M (2017) |
| Owner | Serta Simmons Bedding |
| Website | www |
Tuft & Needle is an American bed-in-a-box company that launched in 2012. [1] On September 28, 2018, the company was acquired by Serta Simmons Bedding. [2]
Tuft & Needle started as an e-commerce company founded on July 19, 2012 by Daehee Park and John-Thomas Marino. [3] Both met via the entrepreneur program at Pennsylvania State University. [4]
The company generated $1 million in sales at the end of 2013. [5] The company later opened its first brick and mortar showroom in the company's Phoenix headquarters in December 2014. [6] [7]
Tuft & Needle acquired TN.com in September 2015. The company established its headquarters at O.S. Stapley Hardware buildings on Grand Avenue in Phoenix in December 2015, after a city grant of $300,000 was used to improve and repair the buildings by a real estate developer. [8] In 2015, Tuft & Needle grew to over 100 employees and earned over $100 million in revenue.[ citation needed ]
After turning down investment offers from venture capital investors, Park and Marino took out a $500,000 loan from Bond Street in 2016. [9] In 2016, the company launched a national billboard campaign entitled "Mattress Stores Are Greedy." [10]
In 2017, the company had $170 million in sales. [11] Tuft & Needle spent over $14 million in media during the same year. [12]
On September 28, 2018, Tuft and Needle closed a merger with mattresses manufacturer Serta Simmons Bedding. [13] [11] In November 2018, they also announced a partnership with Amazon to release an Amazon-exclusive mattress called "The Nod." by Tuft & Needle.
On January 23, 2023, Serta Simmons Bedding filed for Chapter 11 bankruptcy. [14]
As of January 2019, Tuft & Needle operates seven retail stores in Scottsdale, Gilbert, Seattle, Kansas City, Raleigh, Portland, and Dallas. [15] Their products are also stocked at select Lowe's, Crate & Barrel [11] and Walmart locations across the United States. [15] [16]
Serta is an American company based in Hoffman Estates, Illinois, that manufactures mattresses.
The Simmons Bedding Company is an American major manufacturer of mattresses and related bedding products, based in Atlanta, Georgia. The company was founded in 1870. Simmons' flagship brand is Beautyrest. In addition to operating 18 manufacturing facilities in the United States and Puerto Rico, the company licenses its products internationally. According to a Simmons press release, net sales for 2005 were $855 million, and its revenue was $1.13 billion in 2007 and $1.228 billion in 2013. In 2011, Simmons ranked in third place among U.S. mattress manufacturers, with a 15.7 percent market share. In 2012, Simmons and its sister company Serta International were acquired by American private equity company Advent International. As of 2022, Simmons is a subsidiary of the American company Serta Simmons Bedding, LLC of Doraville, Georgia. On January 23, 2023, Serta Simmons Bedding filed for Chapter 11 bankruptcy.
Spring Air Company is a mattress company based in the United States. It was founded in Chicago in 1926 when Francis Karr patented a mattress design with free-end coils. Because of the heavy weight, high transportation costs, and low value per unit weight of mattresses, they are often manufactured locally. The company is thus a licensing organization, with local licensees manufacturing the mattresses under a common name for national marketing. Like a cooperative, the licensees own the Spring Air name. Spring Air has factories across the world.
Raymour & Flanigan is a family-owned American furniture retail chain, based in the Northeastern United States.
Sleepy's was a retail mattress chain with over 1,000 stores, primarily situated in the northeastern United States. The company was founded in New York City in 1931. Sleepy's was acquired by Mattress Firm in December 2015 and all stores were rebranded under the Mattress Firm name on January 1, 2017, but the website continued as an online retailer until 2018. Mattress Firm now uses the Sleepy's name for their private label mattresses.
The McRoskey Mattress Company is a handmade mattress making firm founded in San Francisco, CA. Established by two brothers in October 1899, it has been trading continuously ever since, including during the aftermath of the San Francisco earthquake of 1906. The company operates out of their "flagship showroom" at 1687 Market St. in San Francisco.
1800Mattress.com was an American bedding retailer headquartered in Hicksville, New York and famous for its ads that used the slogan "leave off the last S for savings".
Mattress Firm Inc. is an American mattress store chain founded on July 4, 1986. The headquarters of the company is located in Houston, Texas.
Marc Eric Lore is an American entrepreneur, businessman, investor, and NBA owner. In December 2021, CNBC reported that Lore is now the Founder, Chairman, and CEO of the Wonder Group. From 2016 to 2021, he was the President and CEO of Walmart U.S. eCommerce. Lore was appointed in September 2016 to lead Walmart's e-commerce division when his company Jet.com—an e-commerce website launched in 2014—was acquired by Walmart, Inc. Walmart purchased Jet for $3.3 billion.
Steinhoff International was a multinational holding company that was dual listed in Germany and South Africa. It was officially liquidated on 13 October 2023. Its holdings were in the retail sector, primarily in furniture and household goods, and included a 43,8% stake in South Africa's Pepkor group. The company operated in Europe, Africa, Asia, the United States, Australia and New Zealand. It was well known for an accounting scandal which led to criminal charges against its former chief executive, Markus Jooste.
Casper Sleep Inc. is an e-commerce company that sells sleep products online and in retail locations. Headquartered in New York City, the company has showrooms in New York City, Chicago, and elsewhere. Its mattresses are manufactured in Georgia and Pennsylvania.
Saatva is an American privately held e-commerce company that specializes in luxury mattresses and is based in New York City with a second major office in Austin, Texas. Launched in 2011, Saatva was one of the first companies to implement the direct-to-consumer business model. The fastest growing major direct-to-consumer mattress brand from 2019 to 2021, Saatva is estimated to bring in close to $500M in direct annual revenue in 2022 with no wholesale channels. In 2015, Saatva ranked #101 on Inc's list of the top 500 retailers for the year. Saatva mattresses launched Loom and Leaf, an eco-friendly brand of luxury memory foam mattresses and their high-end Zenhaven mattress in 2016.
PT Gojek Indonesia is an Indonesian on-demand multi-service platform and digital payment technology group based in Jakarta. Gojek was first established in Indonesia in 2009 as a call center to connect consumers to courier delivery and two-wheeled ride-hailing services. Gojek launched its application in 2015 with only four services: GoRide, GoSend, GoShop, and GoFood. Valued at US$10 billion today, Gojek has transformed into a super app, providing more than 20 services.
Boll & Branch is a privately held, U.S. based, e-commerce company that sells luxury bedding online. Headquartered in Summit, New Jersey, the company manufactures and sells organic cotton bed linens, blankets and bath towels and are the first maker of such goods to be certified by Fair Trade USA.
Trump Home is a brand of furniture and home items initially marketed by American businessman and former President of the United States Donald Trump and owned by Trump's company, The Trump Organization.
Gopuff, legally GoBrands, Inc., is an American consumer goods and food delivery company headquartered in Philadelphia. The company operates in more than 650 US cities through approximately 500 microfulfillment centers as of October 2021. It also operates in the United Kingdom, following a takeover of Newcastle upon Tyne-based Fancy. As of July 2021, the company was valued at $15 billion.
Darvin Furniture & Mattress is an American furniture and mattress retailer based in Orland Park, Illinois. Three generations of the Darvin family have owned and operated Chicago metro area's furniture and mattress store. The company was founded by Louis Darvin in 1920 and succeeded by son David Darvin, then by grandsons Steve and Marty Darvin. Under the leadership of Darvin Furniture & Mattress President Will Harris, the retailer is ranked 71st in the Top-100 list of Furniture Retailers in the U.S.
King Koil is an American manufacturer of mattresses and related bedding products, headquartered in Avondale, Arizona. The company was founded in 1898 and is among the oldest in its industry in the United States. It operates in over 90 countries and has more than 30 licensees.
Amerisleep is an American memory foam mattress and bedding company based in Scottsdale, Arizona. The company was founded in 2010 and it has retail locations in Arizona, Colorado, Texas, Oregon, Houston and three stores in South Korea.