Purple Innovation Announces Acquisition of Intellibed

‘The Energy of Gel Grid Expands’ 

The innovation and advertising and marketing energy of Purple fulfills the luxurious supplying of Intellibed to bring vendors and wholesalers bigger margin enterprise and improved revenues by supplying a finish assortment of beds for every single comfort profile at just about every value point. The deal will unite Purple Innovations’ IP beneath the Purple model and solidify its management of the Gel Grid category it developed, getting benefit of improved client fascination in Gel Grid technological innovation, the ideal genuine innovation in sleep engineering considering the fact that memory foam.  

LEHI, Utah, Sept. 1, 2022 /PRNewswire/ — Nowadays, Purple Innovation, Inc. (NASDAQ: PRPL) (“Purple”), the world’s chief in Gel Grid technologies mattresses, introduced the acquisition of Intellibed, a top slumber wellbeing and wellness enterprise. The acquisition will normally lengthen Purple’s high quality mattress vary into the luxurious group and harness the genuine electrical power of Gel Grid technology under just one brand.  

“Intellibed is an outstanding fit for Purple,” reported Rob DeMartini, Chief Govt Officer of Purple. “Intellibed has accredited specific facets of Purple’s gel systems for a lot of yrs for that reason, this acquisition makes it possible for us to consolidate our IP under one particular roof and certainly capitalize on the amplified buyer interest and need for Gel Grid engineering. In addition, Intellibed’s premium market place posture permits Purple to accelerate its solution growth program by several a long time and immediately deal with the extra luxury, increased-margin section of the snooze and wellness sector. We are excited about the put together potential of our two hugely gifted teams.”

In a new customer research by Keybanc, Purple was the only publicly traded brand to see an improve in customer fascination yr-around-yr. The examine also showed that Gel Grid technological know-how experienced the optimum conversion potential among individuals who are progressively transferring absent from coils. (KBCM Shopper Survey, July 2022).

Below the phrases of the acquisition, Purple will fold the Intellibed relatives of manufacturers into a luxurious Purple products line, tapping Purple’s major brand name energy and creating a merchandise vary from high quality mattresses starting at the $1,399 price tag stage, up to the luxurious selling prices over $7,000 per mattress. This indicates a wider assortment of choice for consumers, greater market place existence for the brand, and higher margins and more earnings for the trade. The acquisition solidifies Purple Innovations’ management of the Gel Grid group and accelerates the category’s now speedy progress.

Purple will retain Intellibed staff and integrate functions wherever it increases buyer and consumer expertise, drives efficiencies in producing and distribution, permits progress, and captures the benefits of scale.

“Intellibed is becoming a member of forces with one of the most revered snooze innovators in the industry. This merger provides Intellibed with a great opportunity to arrive at a a great deal broader buyer audience by way of Purple’s larger, extra diversified wholesale distribution network and expanding footprint of enterprise-owned showrooms. Moreover, we search forward to benefitting from the advertising and marketing prowess that has designed Purple the swiftest-growing high quality snooze manufacturer.  We’re so happy to align with a firm that shares our vision for delivering the health and fitness added benefits that our tested far better-rest products and solutions give” mentioned Colin Residence, CEO of Intellibed.

Purple’s new luxury line is envisioned to debut early upcoming year, with the brand supporting and amplifying Intellibed gross sales through the transition.    

About Purple

Purple  is the creator of and world’s chief in Gel Grid engineering, the most ground breaking advancement in mattresses since the introduction of memory foam. Purple’s marketing and advertising motor has built the firm a household name in high quality mattresses to help individuals really feel and live much better by means of impressive comfort solutions. We style and design and manufacture a variety of revolutionary, premium, branded superior-rest products and solutions, such as mattresses, pillows, cushions, mattress frames, sheets and much more. Our items are the final result of above 30 decades of innovation and investment decision in proprietary and patented consolation technologies and the enhancement of our possess production procedures. Our proprietary gel technologies, Hyper-Elastic Polymer®, underpins a lot of of our comfort items and offers a array of added benefits that differentiate our offerings from other competitors’ merchandise. We marketplace and market our goods by way of our direct-to-purchaser channels, Purple.com and Purple Showrooms, and via retail partners.  For far more information and facts on Purple, take a look at purple.com .

Contact:

Michele Anderson, [email protected]

Source Purple Innovation, Inc.