Simmons, a sleep specialty brand, achieved its highest-ever performance and maintained its position as the number one company in the bedding industry.
Simmons announced on the 24th that its sales last year reached a record high of 329.5 billion won, an increase of 5% compared to the previous year. Operating profit was 52.7 billion won, up 65% from the prior year.
Simmons noted, "The successful establishment of a multi-brand strategy focused on the premium mattress market and the high-end vegan mattress N32 drove our performance."
Simmons achieved significant results in the premium mattress market priced above 3 million won last year. The company reached a 90% share in major five-star hotels, and the annual growth rate for its ultra-high-end lineup, 'Beautyrest Black,' reached 20%.
Simmons recorded a research and development expense of 1.25 billion won last year. This was used for the development of vanadium pocket springs, which offer semi-permanent use, as well as for the launch of vegan mattresses and pet mattresses.
An Jeong-ho, CEO of Simmons, said, "Last year, Simmons focused more on technological innovation, which is the essence of the corporation, in order to repay consumers' unwavering support and also tried to fulfill its social responsibility." He added, "This year is expected to be particularly difficult due to unstable international conditions and inflation, so we have decided to freeze product prices."