Minneapolis-based mass merchant Target invested $75 million in mattress startup Casper and began selling a selection of Casper products online and in stores in June.
The move follows a failed attempt by Target to acquire the online bed brand, headquartered in New York, for $1 billion in May, according to various news reports.
Casper launched in 2014 as an online-only retailer of a one-size-fits-all boxed foam bed and has since broadened its product line and its distribution channels. The company’s marketing savvy and out-of-the-box sales success have inspired hundreds of copycats around the globe and brought plenty of media coverage.
“We love Casper’s brand and innovative products—and we really love the idea of giving our guests a simple way to get a better night’s sleep, with everything they need in one convenient place,” said Jill Sando, Target senior vice president of merchandising.
Target sells the Casper mattress at its website only. In-store and online, it retails Casper pillows, sheets and several exclusive Casper-branded products, such as a topper that converts to seating.
In an announcement on Target’s website, Philip Krim, Casper chief executive officer and a company co-founder, said, “Since our launch … we’ve seen a huge demand from customers who want to experience the Casper brand in person. Partnering with Target allows us to bring Casper products directly to consumers in-store on a national scale.”