Simons has achieved its highest ever sales record again this year, maintaining its position as the top in the industry. Simons announced on the 24th that its sales revenue for the previous year reached 329.5 billion won, marking a 5% increase from the previous year. During the same period, operating profit increased by 65% to 52.7 billion won.
Ace Bed announced on the 6th of this month that its sales revenue was 326 billion won with an operating profit of 66.2 billion won. Simons’ sales revenue was approximately 3.5 billion won higher than this figure. However, Ace Bed’s operating profit was about 13.5 billion won higher.
Simons attributes its sales increase to its multi-brand strategy led by its high-end vegan mattress, the ‘N32’. Particularly, Simons holds a 90% market share in major five-star luxury hotels, and its most expensive premium lineup, the “Beautyrest Black”, has shown an annual growth rate of 20%. The company has maintained a steady premium strategy and continues to show growth in the premium market above 3 million won.
Last year, Simons also released a pet mattress, becoming the first in the industry to obtain the “Three Major Pet Safety Certifications”, marking its entry into the pet products market as a future growth driver.
An Jung-ho, CEO of Simons, commented, “Last year, we focused on technological innovation, which is the essence of the company, and also strived to fulfill our social responsibilities. We anticipate that this year will be especially challenging due to unstable international conditions and inflation, so we have decided to freeze product prices.”
Additionally, Simons is running the ‘Beautyrest 1925’ project, an ESG initiative where 5% of the consumer price of each product sold is donated to the remodeling fund for the Pediatric and Adolescent Center at Samsung Seoul Hospital. Over 3,000 beds have been sold through this project, accumulating over 600 million won in donations.