Resident (company)

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Resident
Private
IndustryHome Furnishing
Founded2016
FounderCraig Schmeizer

Eric Hutchinson

Ran Reske
Headquarters
Area served
United States, United Kingdom
ProductsMattresses, rugs, furniture
Revenue
  • Increase US$250 million (2018)
Number of employees
200
Websitehttps://www.residenthome.com/

Resident is privately held, US based home goods company. Launched in 2016 as direct-to-consumer matress retailer by DreamCloud LLC and is headquartered in San Francisco, California and has offices in New York City, London and Tel Aviv, with distribution in the U.S. and UK.[1][2] The company was the fastest-growing e-commerce retailer in North America in 2018, according to Internet Retailer's 2019 Top 1000 Analysis Report.[3]

History[edit]

Nectar Sleep was co-founded by Craig Schmeizer, Eric Hutchinson and Ran Reske in 2016 as a direct-to-consumer mattress and bed frame retailer.[4][5] The business was launched with no venture capital.[6]

It sold more than 50,000 beds and generated $35 million in revenue in its first year of business.[7][8][9]

In 2018, the company collaborated with Mayim Bialik, who has a PhD in neuroscience and is one of the stars of the CBS sitcom "The Big Bang Theory", for a digital video campaign.[10] They also launched a Spanish website, dedicated social media, and Spanish language servicing.[5]

The brand received a complaint from the FTC regarding the location of the manufacture of their products. They settled the claim soon after the complaint was received.[11]

Products[edit]

Nectar Sleep sells a memory foam mattress called DreamCloud.[12] [8]

They also offer adjustable bed frames, mattress protectors, and weighted blankets.[13][14]

Retail presence[edit]

All of Resident’s brands are available in the United States. Nectar is also available in the United Kingdom. Through various collaborations, Nectar by Resident has expanded its brick-and-mortar presence,[15] selling products in over 250 stores through its network along the East Coast.[16] Resident has also announced the expansion of retail partnerships to over 1,000 stores, with outlets such as American Furniture Warehouse, Mathis Brothers, and Nebraska Furniture Mart.

References[edit]

  1. ^ "Nectar Sleep | Better Business Bureau® Profile". www.bbb.org. Retrieved 2019-02-21.
  2. ^ Holdings, DreamCloud. "DreamCloud Holdings Adds Level Sleep To Its Fast-Growing Family Of Mattresses". www.prnewswire.com. Retrieved 2019-02-22.
  3. ^ Nectar. "Nectar Named 2018 Fastest-Growing Online Retailer In North America By Internet Retailer". www.prnewswire.com. Retrieved 2019-04-25.
  4. ^ Sleep, Nectar. "Nectar Sleep, America's Fastest Growing Mattress Company, Arrives in the UK". www.prnewswire.co.uk. Retrieved 2019-02-21.
  5. ^ a b Sleep, Nectar. "Nectar Sleep is First Direct-To-Consumer Mattress Brand to Tap Into $1.5 Trillion U.S. Hispanic Market with Custom Consumer Journey". www.prnewswire.com. Retrieved 2019-02-21.
  6. ^ Auerbach, Brad. "How to Succeed in the Online Mattress Business - You Gotta Know the Territory". Forbes. Retrieved 2018-08-15.
  7. ^ "This Mattress Startup Hit $55 Million in Just One Year--Here's How". Inc.com. 2018-04-18. Retrieved 2018-08-15.
  8. ^ a b "Mattress Brands Go Cross-Channel | PYMNTS.com". www.pymnts.com. Retrieved 2018-08-15.
  9. ^ CNBC.com, Danielle Garrand, special to (2017-11-06). "Nectar uses experience-seeking to boost mattress sales, making $35 million in the process". www.cnbc.com. Retrieved 2019-02-22.
  10. ^ ""The Big Bang Theory" Star Mayim Bialik Partners with Nectar Sleep to Encourage America to Make Better Choices". www.morningstar.com. 2018-12-05. Retrieved 2019-02-22.
  11. ^ "Nectar Brand LLC Settles False Claims That Products Are Made in USA – USA Herald". USA Herald. 2018-03-15. Retrieved 2018-08-15.
  12. ^ Desai, Tamanna (2018-05-12). "If sleep is valuable, mattress company Nectar is betting people will pay $1500 for the privilege". CNBC. Retrieved 2018-08-15.
  13. ^ "I sleep on an adjustable bed frame that has a massage function and a zero gravity setting — and yes, it's a game changer". Business Insider. Retrieved 2018-08-16.
  14. ^ "Nectar's adjustable bed frame comes with a NASA-inspired Zero Gravity setting". www.digitaltrends.com. Retrieved 2019-02-22.
  15. ^ Peretz, Marissa. "How Do Leaders Succeed Despite Tricky Workplace Politics?". Forbes. Retrieved 2018-08-15.
  16. ^ "World's Fastest Growing Mattress Company, Nectar Sleep, Partners with One of the Largest Brick and Mortar Retailers in the Country". www.morningstar.com. 2019-01-23. Retrieved 2019-02-22.

External links[edit]