To assist retail customers as they begin reopening stores that have been closed due to the COVID-19 pandemic, mattress manufacturer King Koil will allow customers to defer payments for new floor samples and inventory until January.
“The effect of the COVID-19 pandemic has been catastrophic to retailers on so many levels,” said David Binke, chief executive officer of the Avondale, Arizona-based company. “Since the slowdown, our team has been thinking about the day our partners reopen for business, and how we can create bold and innovative programs to help them kickstart sales and restore their financial health. We understand that the greatest challenge retailers will face as they reopen is minimal early revenue and limited cash flow. King Koil will do everything we possibly can to stand beside our retailers as we all emerge from this period. I believe the industry will come out of this very positive and to do that requires some creative strategies.”
The aptly named King Koil Mattress Stimulus Package is available to new and existing customers who buy from the company’s Arizona plant.
In tandem with the deferred payment program, King Koil has launched two sharply priced innerspring mattress models with retail price points of $799 and $999 in queen (mattress only). The beds have the type of construction seen in much more expensive beds, such as hand-tufting, high-end fabrics, specialty foams and microcoils.