We sell our products through two channels: Retail and Other.
Retail
Our Retail channel sells to furniture and bedding retailers, department stores
and warehouse clubs, among others and represented 91.2%. Our top five customers
accounted for approximately 39.4% of our net sales. Mattress Firm Holding Corp.,
which is represented in the North America segment, is our largest customer.
On February 5, 2016, Mattress Firm Holding Corp. acquired all of the outstanding
equity interests in HMK Mattress Holdings, LLC ("Sleepy’s").
Sleepy’s was also one of our top 5 customers in 2015 and as a result of
this acquisition, the combined companies will be our largest customer, and will
represent a significant portion of our overall sales. Mattress Firm and Sleepy’s
together represented approximately 25% of our overall net sales. Additionally,
we have a long-term supply agreement in place with Mattress Firm, which we have
recently extended. The loss of one or more of these customers could negatively
impact our profitability.
Other
Our Other channel sells directly to consumers through e-commerce platforms,
company owned stores and call centers, and to third party, healthcare and hospitality
customers and represented 8.8% of net sales in 2015. Third party includes sales
to distributors in countries where we do not sell directly through our own subsidiaries.
Healthcare includes sales to hospitals, nursing homes, healthcare professionals
and medical retailers. Hospitality sales include hotels.
Sources:
’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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