Join Kathryn Greene for an insightful Shop Talk session with Joe Megibow, the brand new CEO of Casper. In this candid interview, Joe shares his excitement about leading one of the industry’s top consumer brands and discusses Casper’s innovative product lineup and future plans.
Transcript
Kathryn Greene
Here today for another edition of Shop Talk with Joe Megibow the brand new CEO of Casper. Thank you for joining me today.
Joe Megibow
Thank you for having me. I’m eight days into the job, so it’s brand new.
Kathryn Greene
So now that you’re here, what excites you about being at Casper?
Joe Megibow
I am thrilled to be here. I was in the category before and am thrilled to be back. I mean, Casper is, bar none, the best consumer brand in the category. And to have an opportunity to steward that brand as we’re getting back to growth and, I mean, all new product, we’ve really sort of reinvented what we are at the product level.
Joe Megibow
There’s just so much potential and I’m thrilled to have a chance to be a part of that.
Kathryn Greene
Sure. So what’s new? What’s going on at Casper in terms of products and changes, perhaps?
Joe Megibow
We started, like many Internet companies, with one product. We had the Casper mattress, and sort of evolved a few products that we went as we’ve expanded and tried to be more relevant with our retail partners, our wholesale partners, having a full assortment that is a thoughtful assortment designed at various price points with clear consumer benefits was something that we didn’t have anymore.
Joe Megibow
What we have now is really kind of a relaunch of Casper with our new line, all new mattresses, where we’ve got a clear step-up story starting with what will likely be about a retail $1,000 mattress all the way up to a $2,995 mattress that we feel is the best mattress we’ve ever made. We’ve always been very consumer-centric, and this is the culmination of everything we’ve learned through the years.
Kathryn Greene
So much engineering goes into Casper.
Joe Megibow
Yeah, I was actually a little surprised. I mean, as an outsider to Casper, I knew it from the category. I’d heard about Casper Labs. But again, is that a marketing thing, or is that real? It turns out it’s very real. We are. I think there are a lot of mattresses in the category that are built to sell and aren’t built around.
Joe Megibow
Are we genuinely trying to improve health and quality of sleep, which we spend a third of our lives doing? And it is the most restorative thing you can do to improve our lives. There are thousands of hours of research and work we do in the labs on designing exactly what we put in the mattresses, which is very purpose-built.
Joe Megibow
That costs. It adds complexity but makes the best mattress for our customers.
Kathryn Greene
What is the secret sauce to success? Any tips are tricks you could share with us. Any advice?
Joe Megibow
In general?
Kathryn Greene
Just for retailers in the sleep products space?
Joe Megibow
Look, at the end of the day, this is a consumer product. I think everything has to begin and end with the customer. And it’s easy in this category to think of your customer as your retail partner. You know, they’re the ones who actually buy the mattresses. But this is a consumer product and a very intimate consumer product.
Joe Megibow
To be successful, are you listening to your customers? Do you know what they need? Are you servicing those needs? If you get that right for the customer, you’ve got yourself a real business.
Kathryn Greene
Great. Well, thank you so much for joining us today.
For more news on Casper, Casper Names New CEO.
