According to Reuters, Casper is looking for underwriters to make an initial public offering (IPO). Often touted as the original boxed-bed e-commerce brand, Casper is now finding success both online and in its brick-and-mortar locations. It’s also become quite attractive to high-profile investors including the likes of Target, Leonard DiCaprio and 50 Cent. The company recently reported its valuation at $1.1B. While the company has not commented on the IPO rumors, it has expressed that it will put the new capital toward expanding its retail presence, wholesale distribution and e-commerce platforms.
What It Means For Retailers
The moral of the Casper story is that retail is not dead. In the words of Robinhood Snacks, “‘Dog bed’ through ‘King size’ Caspers are all available on the everything store [Amazon], but just 4% of sales last quarter were on Amazon.” So, consumers are going straight to Casper—in person and online. These findings show that consumers are still interested in brick-and-mortar retail, but the old guard needs to up its game with more engaging retail experiences or back down.