MATTRESS GIANT GOING EVERYWHERE FOR SHARE
CARROLLTON, Texas-Part businessman, part pragmatist, Mattress Giant president Phil Lang is no ordinary bedding retailer.
"I am interested in consolidating the bedding industry," reported Lang. "I think this is very important for a company's buying and advertising power. I would like to be in the situation someday where I can place an ad in USA Today and cover my markets. There's a lot of economy of scale there in becoming a large company. And ultimately, the bottom line of the company will improve."
With 80 locations in major U.S. markets and a new 22-store expansion into the Northeast, MattressGiant is growing at an unprecedented rate. This, according to Lang, is the result of keeping pace with today's consumer, as well as kicking into "acquisition/expansion mode." Partners in foam
"We are looking to have a national presence and to eventually open up stores in the West as well," said Lang. "It's part of our striving to be in all top 25 markets with projections of being a $200 million company by the year 2000."
Sales for the first six months of '98 -- over $100 million -- are up from $83 million for the full-year of '97.
"I see the company opening up a brand new city or two every year, and probably making an acquisition or two every year," noted Lang. "I plan on being a public company within the next 12 to 24 months."
Broadening market reach also benefits the consumer, Lang said. Increased business and name recognition allows for more competitive price points and a wider selection.
Earlier this year, Mattress Giant added to its upper-end bedding selection with Kingsdown's Passions collection and Simmons Crescendo line to tap further into the popular luxury category.
"People are beginning to understand sleep more," Lang explained. "And certainly we try and educate the consumer on what sleep and what proper spinal alignment is. Luxury bedding not only feels good and gives consumers proper support, but it also gives them more of a quality night's sleep, and I think that's where the interest comes from." Best Rated Futons Mattress 4 6 10 12 Inch To Sleep On
"Qualifying the consumer" to buy the right bed appears to be a popular industry catch phrase. And with ads running from $39 to $5,800, Mattress Giant hopes to cash in on the opportunities in offering a wide range of products.
This, however, does not alter the way Mattress Giant sells bedding. The goal is not to promote a manufacturer in particular, but just to sell better bedding.
"We don't have a push line," said Lang. "We believe that all manufacturers are equal. And when you get to a point, it's kind of like looking at three $25,000 cars. It's just a matter of which one is more comfortable for you."
A balance between brand and retailer recognition differentiates the company among consumers, added Lang. "It's the giant, the jingle, the look, the advertising package and the fact that we're a discount superstore."