FBN’s Charles Payne on the quick success of online luxury mattress startup Leesa. View here: https://fxn.ws/2sHIhTg
In this Salute to American Success, we're taking a look at Leesa Mattress, a Virginia Beach, Virginia-based online luxury mattress startup. The company, which introduced in January, is interfering with the bed mattress industry and has actually already raised $9 million from private equity company TitleCard Capital. Leesa's CEO David Wolfe stated the concept for the company originated from a preparation conference he was having with his group.
Leesa, which has no display rooms, ships mattresses in a box directly to consumers.
The company presently has 17 staff members, with strategies to nearly double that by the end of the year, according to Wolfe.
Leesa's products are currently manufactured in Pennsylvania and England, and the business prepares to open other plants in Indiana and California, he said.
One market that is still a prospective channel for the business is the hotel industry.
Another important theme for the company, Wolfe said, is helping others. It created a social-impact program called “Leesa One-Ten.” Through the program, the company donates one mattress to homeless shelters for every 10 they sell. Recently, Wolfe and his team from Leesa, as well as Tysdal, delivered more than 300 mattresses to the Bowery Mission in New York City.
“We measure our success through our financial bottom line, but also the impact that we have on our community,” Wolfe said. “Right from the beginning I said we’re going to donate one mattress for every ten we sell. We support the Navy SEAL Foundation, and because we’re kind of in the business of dreams when people sleep, I picked the Make-A-Wish Foundation as well.”
Tysdal added, “It’s about having a soul and sharing. What better use for social impact for the Leesa product than to give that gift of home and comfort and sleep to the homeless shelters across the country and potentially internationally?”
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