King Koil

King Koil Licensing Company, Inc.
Private
Industry Bedding, Mattress
Founded 1898
Founder Samuel Bronstein
Headquarters st. Paul, Minnesota, United States
Products Mattresses
Website http://www.kingkoil.com

King Koil is a United States-based brand of mattresses and bedding with 40 factories in 80 countries. The company is based in Willowbrook, Illinois. King Koil mattresses are sold in various furniture/mattress stores around the United States.[1] King Koil mattresses are designed and developed in cooperation with the International Chiropractors Association.[2] King Koil mattresses are sold at retail using several brands including "World Luxury mattress", "iMattress", "Extended Life" and "Duck Dynasty".[3]

History

In St. Paul, Minnesota Samuel Bronstien founded the United States Bedding Company in 1898. Samuel, his wife and children worked together to make the business the leading mattress company in the Upper Midwest. When his three sons retire from the company, the third generation began working. Edward Bronstien Jr. became the new president of what today is known as King Koil.

On February 12, 2015, King Koil Licensing Company, Inc. (KKLC) was sold to Kaiserkorp Corporation of Kuala Lumpur, Malaysia. [4] In April, 2015, Teck Hong Goh was named CEO, and Owen Shoemaker was appointed COO, reporting to Goh. [5] In June, 2016, Kumpulan Perangsang Selangor Bhd’s (KPS) bought a 60% stake of KKLC, valuing the business at $47.5M USD.[6]

Products and Customers

KKLC licenses manufacturing rights for its in-house brands to manufacturers and retailers around the world. KKLC operates has customers in over 80 countries. In June 2016, A.H. Beard, one of Australia's largest mattress producers with 17% market share, is the sole King Koil Licensee in Australia and New Zealand. A.H Beard sells King Koil queen sets for between $999 and 6,999.[7] KKLC has license relationships with Sleep International LLC (Tampa, Florida), and SilverRest Sleep Products (Los Angeles, California).[8][9]

Financial Performance

KKLC operated with EBITDA margins of over 25% from 2010 to 2014, and paid out approximately 80% of profits as dividends. According to KPS, KKLC's annual profit in recent years has been between $1M and $1.2M USD.

References

  1. ↑ "King Koil About Us". Retrieved 10 June 2016.
  2. ↑ "ICA Partners". International Chiropractors Association. Retrieved 7 June 2016.
  3. ↑ "Duck Dynasty bedding set for takeoff at King Koil". Furniture Today. Retrieved 7 June 2016.
  4. ↑ "King Koil Parent Sold to Malaysia Licensee". buisinesswire.com. Retrieved 6 June 2016.
  5. ↑ Perry. "New King Koil owners announce management changes". Furniture Today. Retrieved 6 June 2016.
  6. ↑ "KPS finds comfort in King Koil". The Star. Retrieved 6 June 2016.
  7. ↑ "Australian mattress maker A.H Beard eyes international growth for its high-end bedding lines". Bed Times. Retrieved 7 June 2016.
  8. ↑ "King Koil adds new licensee SilverRest Sleep". Retrieved 7 June 2016.
  9. ↑ "King Koil adds new licensee". Bed Times. Retrieved 7 June 2016.

External links

This article is issued from Wikipedia - version of the 9/28/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.