The fourth-generation, family-owned bedding producer focuses on high-quality, durable mattresses and personally supporting its retailers.
It is no small feat to stay in business for a century or more. Sleep products companies with such longevity have survived war, the Great Depression, and recessions big and small. They’ve navigated seismic changes in how consumers buy products and they’ve embraced new components and technologies that have transformed both manufacturing processes and mattress constructions.
In this series, BedTimes celebrates bedding industry suppliers and manufacturers that have survived and thrived for more than 100 years.
We start with Gold Bond, an independent bedding producer based in Hartford, Connecticut, that is marking its 125th anniversary this year.
We asked Gold Bond CEO Bob Naboicheck about the family-owned company’s history and how the business has evolved since its founding to meet retailers’ and consumers’ needs for more than a century.
“While others have succumbed to bankruptcies and mergers, we are working for the next generation and that is something we are very proud of. I hope my grandchildren will be a part of the company someday, so this is a long-term game for us,” Naboicheck told us. “We care about what we do and how we do it and it shows in the product we make.”
Read on for more of Gold Bond’s secrets of enduring success. (Spoiler alert: One secret is that Naboicheck spends 75% of his time on the road, visiting with and educating retailers about the company’s product.)
BedTimes: How did Gold Bond get its start?
Bob Naboicheck: Gold Bond was founded in 1899 by my grandfather, Isadore Naboicheck, a Ukrainian immigrant, who ultimately made his way to Hartford, Connecticut, to start a family and a business. In the early days of the business, mattresses looked more like futons than the mattresses we are accustomed to now. But our core values of team, family and product remain the same. We are still a family-run business — now in our fourth generation — that builds the finest, most durable, quality mattresses available anywhere.
Gold Bond was a small business until the late 1920s when my grandfather bought his first cotton garneting machine that enabled him to scale production. We were becoming vertically integrated and were firm believers that cotton would be the central component of durability, comfort and value in all our mattresses and futons. Today, we produce upwards of 3 ½ million pounds of cotton from six machines, making us one of the few companies that garnet their own cotton in the country.
By the end World War II, we were delivering mattresses throughout the eastern United States to private homes, leading universities, and upscale hotels. In those years, most of the major New York City hotels — The Park Lane, The Palace, The Pierre — were among our clients. Universities and boarding schools were flocking to us, as well, because of the quality, service and value of our products.
I joined the business in 1974 and we expanded it into the leader in futon manufacturing in the country. My son Skip joined us full time in 2005 and is president of the company today. He started here just like I did — by working every school vacation, holiday and summer. He would travel with me to host sales training for our customers as a young man, as I did with my father.
BT: How has your company’s focus or product mix shifted from the company’s founding to today?
BN: Our product mix and range have grown significantly, but our focus on making high-quality, comfortable and durable mattresses remains the same as in the early days. Part of that focus has also been the use of cotton, as it has always been a central ingredient in what Gold Bond produces.
We have changed with modern technology, but our core values remain the same. We continue to use the finest materials so we can offer the greatest value to our customers — and cotton is a big part of that story because of its durability and cost-effectiveness. We’ve stayed true to these values with each new product we’ve added to our line, like the futons in the 1980s or with the introduction of innovative materials and technologies to our mattresses today.
A focus on the retailer has also been central to us. We have always adapted to the needs of our retail customers. Because we do not sell directly to the end consumer, which is unique today, we protect our retail relationships. … Yes, we have our core program, but we make many special products for many of our retailers based on their needs. Gold Bond also doesn’t discontinue products every year as most of the industry does. We launch new products, of course, but we don’t just kill off an existing line because it’s a new year. We want our retailers to sell with confidence, knowing we don’t just change the product to force the retailer to bring in a new model, which is costly. We understand our customers’ needs, as we have been doing this since my first relative came to America. The stories at the dinner table as a child were about business, which is how my family has survived for over 100 years. We are passionate about what we do, and we strive to be the best every day.
BT: Do you think the founders of your company would recognize the company if they walked through the doors today?
BN: Yes, because we remain true to the founder’s values — a long-term strategy of helping our retailers be successful by offering them unique products, enhanced margins and a product that will last longer than its warranty. Our focus remains on delivering the utmost in comfort and longevity and marrying time-tested methods with cutting-edge features to provide a diverse range of mattresses that cater to any need. So, while the products will look different on the outside, the core values of each of them are very consistent within.
BT: To what do you attribute your company’s long success?
BN: Team, family and product. The central core values that we use to build the finest, most durable products that will help make our retailers more successful.
The dedication and expertise of our employees also play a significant role in our success. Everyone here believes in our products and takes pride in each mattress, delivering on the quality that defines our brand.
Lastly, we are constantly meeting with our retailers to ensure they’re educated about our brand and product. I’m personally on the road 75% of the time, meeting with our retailers and doing training sessions with retail sales associates. I arrive at the store before it opens to meet with the retailers and then hang around after opening to speak with the sales team and educate them on our products and brand. We even offer them a discount on our mattresses so they’re able to become fully acquainted with our product, both from a personal and professional standpoint. It makes a huge difference in the knowledge and confidence our dealers have to sell our products.
BT: What advantages does your company’s long history give you among your competitors and in the marketplace?
BN: My grandfather knew every step of the production process and every dealer. He built mattresses with the highest-quality components he could find to offer the greatest value. He topped that off with superior customer service and training. That heritage has been carried down to each successive generation. My son and I are in our plant every day, overseeing production. We take turns going on the road to train our dealers’ RSAs so they are fully empowered to sell our products. This is a time-tested strategy that has worked for us for more than a century and one I believe will continue. Our competitors just don’t do this and that is a tremendous advantage for Gold Bond. That is why we are adding dealers and floor slots at a brisk pace.
BT: What else should BedTimes readers know about your company?
BN: We’ve been successful in business for 125 years because we have stayed focused on our values and service. The values my grandfather created are still what Gold Bond is today. We continue to hand make our mattresses using traditional components, including layers of cotton and wool, sturdy innersprings and border rods, natural latex and steel springs mounted on Canadian spruce wood frames. It’s why our mattresses offer exceptional durability, far surpassing the traditional lifespan of five years. We never compromise on the quality of our materials because it’s what our retailers expect. We have a wide array of amazing customers with all different needs, so we tailor our products accordingly. This business is extremely competitive, but one thing that gives us an edge is that we listen to our customers and adapt to their needs. We’re able to react quickly as we’re constantly interacting with our customer base, whether it be our sales team, our support team or Skip and myself. We make it our mission to know them and are there when they have a need or problem. We are extremely hands-on at all levels so we can provide the utmost care and assistance, which is quintessential to the Gold Bond story.
(Has your company been in business for more than 100 years? Contact Beth English, BedTimes editorial director, at [email protected].)
Read more on Gold Bond Mattress: Gold Bond Celebrates 125 Years.
