Entrepreneur beds down for success with mattress start-up
A MANCHESTER entrepreneur is launching his online luxury mattress business in the UK after securing overnight success in America.
The brainchild of David Wolfe, whose sister Laura runs marketing and events company Journey9 in the city, Leesa is now focused on international expansion having secured $9m from private equity firm TitleCard Capital – including Maroon 5 front man Adam Levine and other celebrity influencers.
This leaves Leesa at a post-money valuation of $45m, with the company on track to achieve $30m in sales in its first year.
As a testament to its success, Leesa has also won the international Shopify ‘Build a Business Competition’, alongside five other start-ups, by generating the most sales over a two-month period, between October 2014 and May 2015.
Beating off competition from tens of thousands of new businesses, the team will receive personal coaching by Sir Richard Branson and a host of American all-star entrepreneurs on Necker Island – Branson’s private retreat.
David Wolfe, who grew-up in South Manchester and is an avid Manchester City FC fan, said: “I’m incredibly proud that we’re launching in the UK as our second market and to be able to contribute – even modestly – to the local economy. Following the US model, we have assembled a strong local team of industry experts on the ground to help us repeat the US success with our HQ in central Manchester and manufacturing in Glossop.
“Leesa has been a run-away success in the US and it’s the most exhilarating business I’ve been involved in so far. It’s unbelievable to think that after just 6 months, we’re on track to achieve $30m in sales in our first year and have already helped more than 10,000 people sleep better.”
Leesa’s products are UK-made and compressed, boxed and delivered directly to customers.
