Willowbrook, Illinois-based mattress maker King Koil has signed a license agreement with Everpia JSC, based in Hanoi, Vietnam, to manufacture, distribute and sell King Koil products throughout Vietnam.
Under terms of the agreement, Everpia will sell King Koil products in Vietnam through company-owned retail stores and through a network of nearly 500 distributors. Initially, Everpia will purchase King Koil products from King Koil’s Arizona plant.
“Vietnam is one of Asia’s fastest-growing consumer economies,” said David Binke, King Koil’s chief executive officer. “It was an important place for our brand to have a foothold, and we’re very excited about our new partnership with Everpia. We looked at a number of opportunities to build our brand in Vietnam, but Everpia stood out because of their passion for the King Koil brand, their marketing expertise and their extensive distribution network.”
Everpia, which produces mattresses and bedding accessories under the Everon brand name and others, began selling U.S.-made King Koil products this summer while it prepares its factory in Hanoi for domestic production of King Koil sleep products. That project is expected to be completed by fall.
“The addition of a strong U.S. brand represents an unprecedented growth opportunity for our company,” said Lee Jae Eun, chair and CEO of Everpia. “We wanted to partner with King Koil because of its strong presence in Asia and its reputation for high-quality sleep products. We are proud to represent the King Koil brand in Vietnam, and we are confident that the brand will be a success in Vietnam.”
Everpia is a publicly traded company whose shares are listed on the Ho Chi Minh City Stock Exchange under the symbol EVE.
King Koil already has licensees in Cambodia, China, Laos, South Korea and Thailand.
