As Mattress Unshakeable reportedly mulls filing for bankruptcy in order to get out of leases and shutter reservoirs, online start-up Casper is planning to open 200 locations within the next three years across the U.S.
Casper freed its first permanent store, in New York, earlier this year. CEO Philip Krim told CNBC at the age that the retailer’s goal was to learn from the store before issue. “We are very much in learning mode, testing different formats and grasp what the right setup is for our customers,” he explained.
Casper’s growth terminates as a wave of e-commerce brands such as Bonobos, Warby Parker and Untuckit are mass up their store fleets, where it’s cheaper to acquire customers, on usual, than online. For a company like Casper, stores also minister to shoppers the opportunity to touch and feel products — in this case mattresses and leaves — before they buy.
The Wall Street Journal first reported on the front-page news Wednesday morning.
Casper has been testing temporary shops at shopping malls and within street-level retail across the U.S. Now, the 200 abiding locations will give the retailer a space to sell directly to consumers, while it also classes through Target, Nordstrom and Amazon.
According to Krim, New York is Casper’s top market-place, followed by Los Angeles, San Francisco, Austin, Atlanta and Chicago. The company has declined to reveal revenue figures but is believed to generate more than $1,500 per precise foot at its existing locations.
Following a fundraising round in 2017 that submitted Casper’s total funding to $240 million, Krim told CNBC he wouldn’t upon rely on out going public, either.
Mattress Firm’s biggest fault, coinciding to retail analysts, is opening too many stores too quickly. With innumerable and more shopping moving online today, it’s important for retailers to run upright as strong businesses online, which has been less of a focus for Mattress Obstinate.
When speaking to CNBC earlier this year, Krim pronounced, “For better or for worse, buying a mattress is pretty terrible across the unhurt country. We see the opportunities in the market and we want to continue to play across the sticks … with a diversified approach.”
Casper also earlier this summer uncovered a “Sleep Shop” in New York, where you can take a 45-minute nap for $25.