NEW YORK — Purple is becoming a leading mattress brand, driven by its highly differentiated and patent-protected hyper-elastic polymer grid technology, an industry analyst said.

In a new report on the company, Wedbush says the Purple brand “appears to be ‘going viral,’ if a recent 150% spike in Google search volume is any indication. This would not be the first viral activity for Purple following pioneering YouTube video advertisements a few years ago, but it represents an inflection to a formidable industry competitor.”

Wedbush said its capacity analysis indicates that Purple could have $1.3 billion in annualized revenue production exiting 2021. That “would make it a top six brand,” the firm noted.

“While it is too early to call Purple’s technology the next memory foam, which Tempur-Pedic developed and marketed to revolutionize the industry in the 1990s, it is gaining strong consumer acceptance and is growing much faster than Tempur-Pedic did,” Wedbush said. “Moreover, the only consumer mattress licensee of the product, Intellibed, is looking for ways to further commercialize the technology by launching a line of gel matrix private-label products at the leading retail mattress chain, Mattress Firm.”

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