Mattress Bathtub and Past is lowering the dimensions of its flagship retailer in New York Metropolis, however the retailer is making room for a brand new strategic associate in Casper.
When the shop in Midtown Manhattan reopens on Thursday, it can embody house for Casper, giving the net sleep firm its first-ever branded bodily procuring location.
Mark Tritton, CEO of Mattress Bathtub and Past, advised CNBC Tuesday that the partnership will assist solidify its grip on the mattress and sleep merchandise market.
“After we did the analysis, we noticed that buyers actually cherished being at dwelling,” he stated in a “Mad Cash” interview. Information confirmed that house is “their security internet, their past love and the place they felt probably the most snug, and that 80% of these clients stated the bed room was their true haven.”
By way of the deal, Casper will even arrange buyer experiences at different choose Mattress Bathtub and Past places and make merchandise out there at shops throughout the nation later this yr, in keeping with a press launch. Casper’s merchandise will even be carried on Mattress Bathtub and Past-branded web sites.
Mattress Bathtub and Past’s flagship location is wrapping up a serious renovation as a part of the corporate’s transformation plan. The revamp reduces the shop dimension by 20,000 sq. ft, practically half of its authentic dimension.
Shares of Mattress Bathtub and Past rallied greater than 7% on Tuesday, closing the session at $29.05. The inventory has appreciated greater than 63% this yr.