Sit 'n Sleep explained

Sit 'n Sleep, Inc.
Type:Private
Founded:1980
Hq Location:Gardena, California[1]
Num Locations:36
Num Locations Year:2024
Area Served:Southern California
Num Employees:220 (2023)
Owner:Larry Miller

Sit 'n Sleep is an American mattress store chain based in Gardena, California. As of 2024, it has 36 locations, all in Southern California.[2] It is one of the largest independent mattress retailers in the United States and is also known for its extensive advertising.

History

Larry Miller, one of the co-founders of the company and the face of the brand, grew up in West Los Angeles. He had many odd jobs as a teenager and helped his dad, Phil, at his convertible bed store in Culver City.[3] In 1971, the Millers traveled to Tokyo. They saw a futon and wanted to find a manufacturer in California to make them. Futons became popular in the 1980s, so the Millers, father and son, opened their first store in 1980 in Culver City.[4] It was originally known as Rivera Convertible Sofas and in its first year of business, it made US$200,000.[1]

However, the futon trend quickly faded, and the store struggled. In 1982, Phil's friend, a radio station manager, suggested that, to up business, they buy an ad on the station for $25 per spot. This worked and business started slowly climbing again.[4] It experienced its first burst of popularity in the early 1990s, when it placed ads on The Howard Stern Show and television, doubling its profits.[4] As the company grew, Larry wanted to expand the stores' range, but Phil did not, resulting in Larry buying the company out in 1996. The late 2000s brought a great loss in revenue for the company, as there was a large sales reduction in the mattress industry. Sit 'n Sleep's revenue fell from US$99M in 2006 to US$79M in 2008.[1]

Advertising

The company has placed advertisements since 1982.[1] Many of the advertisements feature Lary Miller and his imaginary accountant Irwin, inspired by his childhood friend and the company's actual accountant.[1] Some of his famous quotes are "Sit 'n Sleep will beat anyone's advertised price or your mattress is freeee!" and "You're killing me, Larry!"[4] [5]

The company was sued in 2017 in a class action lawsuit alleging that the "mattress is free" advertisement is misleading because no other companies sell the same products. It also said that the mattresses are 9% smaller than the industry standard.[6]

Philanthropy

In 2015, Sit 'n Sleep partnered with Tempur-Pedic to donate over 250 mattresses to fire departments in Southern California as a part of Fire Prevention Week. They had previously donated 140 mattresses in 2013.[7]

External links

Notes and References

  1. Web site: Holt-Johnstone . Janet . 2013-05-30 . Retail Success Stories Part 19: Sit ‘n Sleep . 2024-01-22 . Furniture World Magazine . December 8, 2023 . https://web.archive.org/web/20231208002906/https://www.furninfo.com/furniture-world-articles/3434 . live .
  2. Web site: Official website . 2024-01-21 . January 21, 2024 . https://web.archive.org/web/20240121220919/https://www.sitnsleep.com/ . live .
  3. Web site: 2022-09-05 . 40 Under 40 - Drew Miller, Sit n' Sleep . 2024-01-22 . . en-US . July 6, 2024 . https://web.archive.org/web/20240706173851/https://www.furnituretoday.com/furniture-people/40-under-40-drew-miller-sit-n-sleep/ . live .
  4. Web site: Li . Shan . 2012-03-25 . How I Made It: Larry Miller, Sit 'n Sleep mattress chain's CEO . 2024-01-22 . . en-US . December 10, 2022 . https://web.archive.org/web/20221210092620/https://www.latimes.com/business/la-xpm-2012-mar-25-la-fi-himi-miller-20120325-story.html . live .
  5. Web site: Lacter . Mark . 2010-08-10 . What happened to Irwin (aka 'You're killing me, Larry!')? . 2024-01-22 . LA Biz Observed . en . November 30, 2023 . https://web.archive.org/web/20231130102327/http://www.laobserved.com/biz/2010/08/irwin_aka_youre_kill.php . live .
  6. Web site: Stone . Ken . 2017-06-28 . 'You're killing me, Larry!' bed firm gets wakeup call: lawsuit on 'mattress free' vow . 2024-01-22 . MyNewsLA.com . en-US . July 6, 2024 . https://web.archive.org/web/20240706173852/https://mynewsla.com/business/2017/06/28/youre-killing-me-larry-bed-firm-gets-wakeup-call-lawsuit-on-mattress-free-vow/ . live .
  7. Web site: 2015-10-08 . Sit ‘n Sleep and Tempur-Pedic® Donate Over 250 Mattresses to Four Southern California Fire Departments . 2024-01-21 . . August 7, 2022 . https://web.archive.org/web/20220807165545/https://lasentinel.net/sit-n-sleep-and-tempur-pedic-donate-over-250-mattresses-to-four-southern-california-fire-departments.html . live .