King Koil’s announcement in May that it would defer retailer payments on new orders and floor samples until January has been an unqualified success, the Avondale, Arizona-based manufacturer said. The program has netted the company 20 new customers and helped out existing ones. It continues through December.
“When the pandemic hit and retailers across the country began to close their doors, our team knew we needed to develop an innovative solution that could be implemented quickly when storefronts began to reopen,” said David Binke, King Koil chief executive officer. “With minimal early revenue and limited cash flow upon reopening, our Mattress Stimulus Package helped not only our existing retailers kickstart sales and restore their financial health, but also proved to be an appealing incentive for new retail partners to place our products on their floors.”