FBN’s Charles Payne on the quick success of online luxury mattress startup Leesa. Watch here: https://fxn.ws/2sHIhTg
In this Salute to American Success, we're having a look at Leesa Mattress, a Virginia Beach, Virginia-based online high-end mattress startup. The business, which released in January, is disrupting the mattress industry and has already raised $9 million from personal equity company TitleCard Capital. Leesa's CEO David Wolfe said the idea for the company originated from a planning meeting he was having with his group.
Leesa, which has no display rooms, ships bed mattress in a box straight to clients.
The business presently has 17 employees, with strategies to nearly double that by the end of the year, according to Wolfe.
Leesa's items are currently made in Pennsylvania and England, and the business plans to open other plants in Indiana and California, he said.
One market that is still a potential channel for the company is the hotel market.
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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