CNBC REPORT TOUTS LATEX INTERNATIONAL AS ONE COMPANY CAPABLE OF CAPTURING LARGE SHARE OF UNBRANDED MATTRESS SALES SPACE
SHELTON, CT – Privately held Latex International was mentioned on CNBC’s popular “Herb on the Street” market report recently as one of the companies poised to capture significant market share in the mattress and sleep products space.
Correspondent Herb Greenberg was reporting on Sealy’s earnings that day as part of the network’s Street Signs program when he said, “Then there is this other big 41-percent of the market that’s all private labels….and then my personal favorite, natural latex, not to be confused with memory foam. Now I believe this is the real sleeper of the group. It’s what I sleep on and there is no big name brand in it…the biggest manufacturer in the world of latex beds is in Connecticut, its private and its called Latex International.”
Prior to the latex mention, Greenberg had said the top five producers (innerspring, memory foam and air) represented 49-percent of the market but was losing share to the private labels, where Latex International was mentioned.
“It was very exciting to see the recognition of our business and indeed the broader latex category by this influential financial journalist. I was even happier when he said he sleeps on a latex bed himself,” said Latex International President and CEO Dave Fisher.
Latex International doesn’t sell mattresses directly to retailers or consumers, but rather through strategic business partners who are some of the major names in the burgeoning specialty sleep category.
“The CNBC story was a real validation of what we are seeing in the marketplace through our strategic business partners who are experiencing strong sales gains. Consumers are clearly recognizing the incredible benefits of a latex mattress,” said Vice President of Sales and Marketing Tom Eisenberg.
HYPNOS SIGNS DISTRIBUTION DEAL WITH LATEX INTERNATIONAL
SHELTON, CT –Latex International announced it recently signed a distribution agreement with British luxury mattress manufacturer Hypnos. Through this partnership Hypnos joins Latex International’s licensing network, becoming the sole distributor of the Pure LatexBLISS™ brand in the United Kingdom.
“As demand for latex sleep products grows in the U.S. and abroad, we felt it was the perfect time to expand our international distribution,” said Latex International President and Chief Executive Officer David Fischer. “We’ve had a great partnership with Hypnos for several years. Their reputation for manufacturing quality, high end products makes them perfectly suited to grow the Pure LatexBLISS brand.”
“For over 100 years, the Hypnos brand name has been synonymous with luxury sleep products,” said Hypnos Managing Director Stephen Ward. “Interest in Talalay Latex mattresses, toppers, and pillows is on the rise. In January 2010, Latex International successfully introduced Pure LatexBLISS, the world’s fastest growing luxury latex mattress brand, into the UK market. Through this partnership Hypnos will be able to bring Pure LatexBLISS to more retailers – expanding the current distribution.”
Founded in 1975, Latex International is the world’s largest manufacturer of latex mattresses and pillows. Latex sleep products provide a unique feel of comfort and support by gently conforming to body contours, which provide a naturally resilient and healthy sleep environment. More than 200 employees produce mattress cores, toppers and pillow buns utilizing both the Talalay molding and Dunlop continuous flow process from manufacturing and fabrication centers in Shelton, CT and Wichita Falls, TX. For more information on the company, please visit www.latexinternational.com.
Hypnos has been making luxury mattresses and beds by hand for over 100 years. Combining traditional skills with constant innovation, and using only the finest natural and sustainable materials, Hypnos has a reputation for making the most comfortable beds in the world. A Royal Warrant from Her Majesty Queen Elizabeth II reinforces Hypnos’s reputation for the very best of British quality. As winner of ‘Bed Manufacturer of the Year – 2011’, the UK bed industry also recognises the Hypnos product and service quality. Hypnos doesn’t just make beds for the home and the Royal Palaces, Hypnos beds can also be found around the world in the finest hotels, indeed Hypnos is the Preferred Partner for the supply of beds to the Condé Nast Johansens global portfolio of 4 and 5 star properties. For more information please visit www.hypnosbeds.com
LATEX INTERNATIONAL CONTINUES TO MAINTAIN ITS WORKFORCE IN WICHITA FALLS, TX
SHELTON, CT – Latex International said today that its operations in Wichita Falls, TX continues to be strong. This announcement follows an article in the Times Record which incorrectly stated that Latex International is a division of Natura World, which recently downsized their workforce.
“We wanted to take this opportunity to correct inaccurate statements that have been reported. Latex International is a tenant of Natura World and a supplier to them,” said Latex International President and CEO Dave Fisher. “We have no other financial connection with the company. Our business remains solid and is growing. We have no plans to make any changes to our local workforce, and stay committed to the Wichita Falls community and the Wichita Falls Chamber of Commerce and Industry.”
Founded in 1975, Latex International is the world’s largest manufacturer of latex mattresses and pillows, sold under many leading brand names through strategic business partners. Latex sleep products provide a unique feel of comfort and support by gently conforming to body contours, which provide a naturally resilient and healthy sleep environment. More than 200 employees produce mattress cores, toppers and pillow buns utilizing both the Talalay molding and Dunlop continuous flow process from manufacturing and fabrication centers in Shelton, CT; Wichita Falls, TX and Harrogate, England. For more information on the company, please visit www.latexinternational.com.
LATEX INTERNATIONAL CREATES NEW PRICING FORMULA THAT OFFERS GREATER TRANSPARENCY TO CUSTOMERS
SHELTON, CT – Latex International said today that instead of following the traditionally cloaked manner in which manufacturers pass along raw material price increases, it would instead hold its base pricing of products steady, but would start adding a “surcharge” line on its invoices beginning June 1st to reflect the ups and downs of latex on the world market.
The simple formula will be calculating the weight of the product and multiplying it by the increased raw material cost. For example, a queen-size, one-inch, 24 ILD topper translates to 9.7 pounds multiplied by an increase of 25-cents a pound, resulting in a $2.43 surcharge for the product. The actual amount of the surcharge will be calculated on the last working day of the month and then reflective in the next months invoicing, whether higher or lower.
“Since February, natural latex pricing has increased by 31 percent and SBR (synthetic latex) is up 21 percent. At this time, we’ve chosen not to pass on a traditional price increase, but will instead be applying a latex surcharge, based solely on cost increases, for all shipments on a line item basis, from June 1st,” said Latex International President and CEO Dave Fisher.
“We do this with great reluctance, but we feel this option is in the best interest for both parties. This surcharge will minimize the impact to your business and be based on actual increases or decreases,” he added. “We cannot control or predict world-wide commodity fluctuations. Without this surcharge we would have to pass on continued price increases each quarter, based on our margin requirements and forecasted raw material increases. We will update the ‘latex surcharge’ on a monthly basis which will be clearly communicated on each invoice and order acknowledgement for our customers.”