Less than two years after going public, Casper, the one-time darling of the direct-to-consumer mattress business, has agreed to sell itself to a private equity buyer. This follows a generally lackluster spin on Wall Street where its stock lost as much as three-quarters of its IPO pricing, while failing to post a profit. Its top line sales continued to climb, thanks largely to expanded distribution through third-party retailers yet the promise of disrupting the bedding sector proved to be more talk than anything else. Let’s face it: the DTC-only model is just plain Stupid, it doesn’t work and any brands that want to build their businesses need to do it through physical stores. Casper has learned that the hard way.
Read all about it in my new Forbes.com post: https://www.forbes.com/sites/warrenshoulberg/2021/11/15/heres-what-casper-going-private-means-next-for-the-mattress-company/?sh=5d9b237c412d