SAN FRANCISCO, May 21, 2019 /PRNewswire/ -- The company that created top-selling direct-to-consumer mattress and rug brands, including Nectar, DreamCloud and Wovenly, announced today it is expanding into the home furnishings space by forming an umbrella company, Resident. The new company is launching its first furniture line, Bundle by Resident, a collection of flexible seating, available now. This strategic shift to a house of brands comes on the heels of record-setting sales in 2018, in which Internet Retailer* named Resident's Nectar the "Fastest-Growing Online Retailer in North America."
"After driving Nectar to unprecedented sales last year, our proven business model is poised to dominate within the broader home furnishings category," said Craig Schmeizer, Resident Co-Founder. "Our approach is unique to the direct-to-consumer space because we offer multiple brands in any given category, like our four mattresses. This DTC "Brand-Building Model," which we will replicate across Resident, lets us cater to specific consumer needs better than our competitors."
With four mattresses, a rug brand and a new furniture line, Resident's overarching acceleration plan also includes the addition of new collections, as well as an increase of Nectar's footprint in brick and mortar stores. Today, the company also announced the expansion of retail partnerships to nearly 1,000 stores with outlets like: American Furniture Warehouse, Mathis Brothers and Nebraska Furniture Mart. Resident will also look to introduce its brands to the United Kingdom.
"Our core belief is that consumers are the channel, and wherever they are, is where we want to be," said Eric Hutchinson, Resident Co-Founder. "That's why we leverage data and deep analytics to cater to their precise needs, whether they are urban dwellers, rural homeowners or anyone in between. Understanding this important dynamic allows us to expand our solutions for customers in various facets of their lives."
The significant 2018 growth of Resident can be attributed to its proprietary, data-driven insights, which offer a strong competitive advantage that allowed Resident to develop more than five successful brands in three years. Each brand Resident creates is marketed independently to ensure the company is targeting the right consumers in the right way. Resident products cater to the way consumers live, while offering incomparable quality, style and value along with an industry-first 365-day trial and Forever Warranty for its four mattresses.
Resident will leverage its proven process as it moves into the broader home category with the introduction of Bundle, which provides flexible seating designed to bring people together. Offerings include affordable, premium seating options, from a custom sofa, starting at $1195 to portable beanbag, starting at $600.
"The mattress is the gateway into the home, but we don't want our business to begin and end in the bedroom," said Ran Reske, Resident Co-Founder. "Bundle will offer a quick and easy way for our customers to shop by offering a unique and modern range of choices that combine durability, comfort and practicality."
With unparalleled standards for quality, style and value, the house of Resident brands includes:
- Bundle by Resident: Flexible seating designed to bring people together
- Nectar by Resident: A memory foam mattress with products for the bedroom
- DreamCloud by Resident: A premium hybrid mattress with products for the bedroom
- Level Sleep by Resident: A therapeutic mattress with sleep accessories
- Wovenly by Resident: A curation of high quality, traditional and contemporary rugs
- Awara by Resident: A premium, hybrid-latex mattress that incorporates as much natural and organic materials as possible with sleep accessories
To learn more about Resident and explore the company's suite of brands, visit Resident Home. While each brand will have its own marketing strategy, the online destination will serve as a hub for consumers to discover new offerings, which will be cross promoted as appropriate.
WHAT IS RESIDENT:
At Resident (http://residenthome.com/), we are relentless in our passion to provide consumers better choices when it comes to everyday home products. From mattresses, rugs and furniture, each of our brands have unparalleled standards for quality, style and value. Offering the best-ever trial periods and warrantees, our direct-to-consumer house of brands include: Nectar, DreamCloud, Level, Awara, Wovenly and Bundle. The company, which is headquartered in California with offices in New York City, London and Tel Aviv, initially launched in 2017 with Nectar, the fastest growing e-commerce brand in the North America.