As Mattress Firm faces an uncertain future that may include bankruptcy and significant store closings, a fast-growing competitor is making its biggest move to fill the void. Casper will open 200 stores across North America over the next three years, according to CEO Philip Krim in an interview with The Wall Street Journal.
Casper, which launched in 2014, opened its first permanent retail shop in New York City earlier this year after gaining popularity with a series of pop-up shops that generate an average of more than $1,500 per square foot, the company says.
Krim hasn’t decided on the size and layout of the 200 stores yet, which will include 18 of these existing temporary locations that Casper will transition to permanent shops. The company plans to test different models and adjust them based on customer feedback. Many of Casper’s temporary stores are currently in malls, and the company expects to keep opening shops in top-tier malls.
The brand also distributes some of its products through various major retailers, including one of its investors, Target, as well as Nordstrom and Amazon. Casper recently launched “pop-in” locations within nine Nordstrom stores across North America that will remain…