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.”

Hi, online readers. I’m David Perry, executive editor of Furniture/Today, and the writer on the mattress beat. Get my musings on mattresses on our web site and on my Twitter feed. And let me know what you would like me to write about in the wonderful world of mattresses.

Follow me on Twitter at https://twitter.com/DT_Perry

Source Article