Tempur-Pedic

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Tempur-Pedic International Inc.
Type Public (NYSE: TPX)
Founded 1992
Headquarters Lexington, Kentucky, USA
Industry Mattresses and Pillows
Website http://www.tempurpedic.com

Coordinates: 38°05′20″N 84°31′08″W / 38.0888°N 84.5190°W / 38.0888; -84.5190

Tempur-Pedic International, Inc. (NYSE: TPX), is a manufacturer and distributor of mattresses and pillows made from TEMPUR material. (TPX) international headquarters is located in Lexington, KY.

Contents

[edit] History

In 1971 National Aeronautics and Space Administration (NASA), in an effort to relieve astronauts of the G-force experienced during lift-off, developed a viscoelastic pressure-relieving material that would be placed in space shuttles. After completion, this formula was made public by NASA. Although useful astronautically,the material originally proved unstable for commercial use.

However, after several years of research and development by NASA, they succeeded in developing a proprietary formulation and proprietary process to manufacture a stable, durable and commercially viable product.[1] The idea was soon acquired by Fagerdala World Foams, a Swedish technical foam firm. Fagerdala spent years perfecting their formula and once complete, named their consumer version of the foam ‘TEMPUR’. The breakthroughs led the way for Fagerdala to develop a commercially useful product, introducing the first ‘Tempur-Pedic Swedish Mattress’ in 1991.

Early in the 1990s, Vice President of Fagerdala Mikael Magnusson and owner Dag Landvik met Kentucky businessman Robert B. Trussell, Jr. through a mutual interest in the horse racing industry. They subsequently granted him the North American distribution rights. Trussell and a partner founded Tempur-Pedic, Inc. in 1992 to bring the brand to the United States. [2].

Nine distributors of Fagerdala, including Tempur-Pedic, Inc., merged in 1999 to form Tempur World holding company. In 2002, private-equity firms TA Associates, Boston,MA, and Friedman, Fleischer, & Lowe, San Francisco, CA, bought the holding company. They retained Trussell as the company’s CEO. [3] In 2002, the firms reformed Tempur World holding company to Tempur-Pedic International Inc. (TPX) went public on December 18, 2003, according to Business First reports.

[edit] Marketing Tactics

Numerous bedding, specialty stores and high-end home stores carry many of Tempur-Pedic products. Morris describes Tempur-Pedic’s marketing as engaging customers’ emotions, inspiring them to buy a better quality mattress. Tempur-Pedic also won a 2009 ERA award for direct marketing.[4]

[edit] TEMPUR material

TEMPUR material was originally based on NASA’s research[5] to develop a material that would cushion aircraft seats and improve survivability in the event of an accident.[6]

NASA acknowledged Tempur-Pedic on May 6, 1998 for utilizing space technology in their products. Trussell, founder and CEO of Tempur-Pedic, was invited to NASA’s headquarters in Washington, DC to attend a press conference in Tempur-Pedic’s honor.[7] There, NASA Administrator Daniel S. Goldin recognized Tempur-Pedic for successfully using NASA technology to create economic opportunity and promote a better quality of life for humankind – in both the consumer and medical sector. After receiving NASA’s Plaque of Recognition, Tempur-Pedic presented the Administration with the one-millionth pillow. This pillow and other similar pillows are on display[7] at NASA headquarters, Johnson Space Center, Kennedy Space Center, and The Smithsonian Institution.

Soon after the NASA Press Conference, Tempur-Pedic was licensed by the Space Foundation to use the official “Certified Technology” seals on their products and advertisements. NASA’s “Certified Space Technology” initiative is committed to broadening awareness, understanding, and support for the important role space plays in the everyday lives of Americans.[8]

Mattresses made of TEMPUR material have earned the Good Housekeeping Seal[9], were awarded a Consumer’s Digest “best buy” as well as an Ease-of-Use Commendation from the Arthritis Foundation.[10]

On March 24, 2009, the United States Patent and Trademark Office issued U.S. Patent 7,507,468, titled “Laminated Visco-Elastic Support,” to Tempur-Pedic. The patent grants Tempur-Pedic exclusive rights to make, use and sell products incorporating the inventions claimed in the ‘468 patent.[11]

[edit] Pancreatic Cancer Action Network Suppport

In October of 2009, Tempur-Pedic began selling a teddy bear [12] made of TEMPUR material in support of the Pancreatic Cancer Action Network (PANCAN)[13].

[edit] Complaints

Many complaints regarding Tempur-Pedic products exist. Some include that the mattresses retain heat and make it difficult and uncomfortable to sleep on continuously. Many complaints of the mattresses containing a strong chemical odor are prevalent as well. Some consumers claim that this affects their breathing. When asked about this, Tempur-Pedic sales reps advise consumers to continue sleeping (or walking) on the bed as it will diminish after two weeks, but some reports claim that the odors continue for an entire year or more. The company has been accused of not being negotiable in the refunding of mattresses for these unsatisfied consumers. Also, after the 90 day in-home trial period the buyer is liable for the cost of shipping the heavy bed back to the manufacturer; this price is not quoted until the end of the trial period.

[edit] Tempur-Pedic Sleep Studies

Tempur-Pedic has sponsored studies related to sleep and sleep habits. Most recently, this included a survey showing the average hours of sleep for American adults

[edit] Tempur-Pedic Popular Culture Mentions

Tempur-Pedic's marketing techniques have included television marketing campaigns, featuring the well-known wine glass test as recently seen on Good Morning America in May, 2009, in a section about "Truth in Advertising".

Along with the wine test, years of advertising has seemingly propelled Tempur-Pedic into the cultural zeitgeist. They have appeared in other pop culture media such as:

  • Rock Band Snow Patrol's 2008 release, A Hundred Million Suns, was described in the November issue of SPIN magazine as being "the arena-rock equivalent of a Tempur-Pedic pillow"
  • Actor Jim Carrey replicated the Tempur-Pedic wine glass test in Yes Man (film)
  • Tempur-Pedic pillows humorously were mentioned on the Showtime TV show Weeds (episode "The Three Cooler") as being perfect for smothering people, due to their tendency to conform to the face.
  • TV Host Oprah Winfrey in October 2007 showcased a Tempur-Pedic mattress on an episode with Sleep Expert Dr. Michael Breus, author of Good Night: The Sleep Doctor's Four-Week Program to Better Sleep and Better Health. [10]

[edit] References

  1. ^ Shareholder Information
  2. ^ Business Week, August 15th, 2008
  3. ^ http://www.answers.com/topic/tempur-pedic-international-inc
  4. ^ http://digitalproducer.digitalmedianet.com/articles/viewarticle.jsp?id=846171
  5. ^ 10 inventions with ties to NASA10
  6. ^ NASA spinoff database
  7. ^ a b Tempur-Pedic History Page
  8. ^ Space Foundation Space Certification Products
  9. ^ Bed and Bath Products — Good Housekeeping Seal
  10. ^ Ease of Use - Arthritis Foundation
  11. ^ Patent Info
  12. ^ [http://www.tempur-pedic.com/promos2/teddy_bear/ The Tempur-Pedic Teddy Bear
  13. ^ [https://netcommunity.pancan.org/SSLPage.aspx?pid=582 The Pancreatic Cancer Action Network & Tempur-Pedic partnership
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Major North American mattress manufacturers

[edit] External links

Retrieved from "http://en.wikipedia.org/wiki/Tempur-Pedic"