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mattress. There is a large percentage of consumers that will not drop $1,000, $2,000 or $3,000
on a mattress that they don’t plan on changing
for another decade without the ability to lie on
it first. That makes sense.
I think about stores as the Goldilocks paradigm. We’ve seen legacy mattress retailers so overextended that they’re now filing for Chapter
11 bankruptcy, and closing up to 700 stores over the next year because the commercial viability of operating that many unprofitable and empty stores is obviously not good. But something between that number and having one or two showrooms that are good for new product launches and press events
is where Casper will be.
We think the magic number is around 200 over
the next three years. I think that that will give us the optimal footprint to both make sure that all our stores are highly productive, but enough coverage that if someone is shopping online and they want to try the product before they click the buy button, they have the opportunity.
How is the business doing today?
Our business continues to grow at a rapid clip. Casper actually turns five years old this year. It’s amazing to think what’s been achieved in that relatively short time frame. We started with literally one product: a universally comfortable mattress, one distribution channel (e-commerce) and one geography (the US). Fast forward to today and we
170 Dramatic Disruptor