Tempur-Pedic
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| 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
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.
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[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 N.A.S.A., 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. They spent years perfecting their formula and once complete, named their consumer version of the foam ‘TEMPUR’. The breakthroughs lead 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.
Numerous bedding, specialty back stores and major retailers, such as Macy’s and Brookstone, now carry many of Tempur-Pedic products.
Tempur-Pedic's successful marketing techniques included television direct marketing campaigns, featuring a wine glass test. Several of these commercials are available via YouTube [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 United States 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 Patent Number 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] Tempur-Pedic Popular Culture Mentions
Due to years of advertising, using an infomercial featuring a man jumping on a bed with a full wine glass, Tempur-Pedic has entered the cultural zeitgeist. They have appeared in popular culture media such as:
- Tempur-Pedic's wine glass test was on Good Morning America in May, 2009, in a section about "Truth in Advertising"
- Tempur-Pedic’s older commercials, which feature full wine or water glasses placed on a bed upon which someone is jumping, are often imitated in amateur videos uploaded to YouTube and other video sharing sites.
- 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"
- Jim Carrey replicated the Tempur-Pedic wine glass test in Yes Man (film)
- Tempur-Pedic pillows were mentioned on the Showtime TV show Weeds, in the episode, “The Three Coolers” as being perfect for smothering people, due to their tendency to conform to the face
[edit] References
- ^ Shareholder Information
- ^ Business Week, August 15th, 2008
- ^ http://www.answers.com/topic/tempur-pedic-international-inc
- ^ TempurPedic YouTube Channel
- ^ 10 inventions with ties to NASA10
- ^ NASA spinoff database
- ^ a b Tempur-Pedic History Page
- ^ Space Foundation Space Certification Products
- ^ Bed and Bath Products — Good Housekeeping Seal
- ^ Ease of Use - Arthritis Foundation
- ^ Patent Info
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