Mattress manufacturer King Koil signed a license agreement with Everpia JSC, headquartered in Hanoi, Vietnam, to manufacture, distribute and sell King Koil products throughout Vietnam. This move strengthens King Koil’s presence in Southeast Asia, giving the company a foothold in the region’s fastest-growing market.
Under terms of the license 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. It was an important place for our brand to have a foothold and we’re very excited about our new partnership with Everpia,” said David Binke, King Koil’s chief executive officer. “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 in Vietnam under the “Everon” brand name and others, will begin 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. 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,” said Lee Jae Eun, chairman and chief executive officer of Everpia.
Everpia JSC is a publicly-traded company whose shares are listed on the Ho Chi Minh City Stock Exchange under the symbol EVE.
The new King Koil licensee adds to the company’s already strong presence in Southeast Asia, where it already has licensees in Cambodia, Laos, Thailand, South Korea and China.
For more information, visit kingkoil.com.
About King Koil: A leading global mattress manufacturer, King Koil supports more than 30 licensees in more than 90 countries where King Koil mattresses are manufactured and sold. Headquartered in the Chicago suburb of Willowbrook, Ill., the company has a long, rich history that reaches back to 1898 when Samuel Bronstein founded United States Bedding in St. Paul, Minn. What started out as six employees in a small factory has continued to grow. During the 1930s, U.S. Bedding improved the bedspring and was looking for a new name for its product. From there, the King Koil name was born.