Paramount President Richard Fleck says ultra-premium sleep sets help retailers ‘elevate the consumer experience.’
Transcript
Dave Perry
We back to this?
We’ve got 2 minutes to shoot this. No, I’m kidding.
Dave Perry
Hey, it’s Dave Perry. Welcome to another “Take 5 With Dave”. I am with Richard Fleck, president of Paramount Sleep. We’re at the High Point Market and Richard is telling me what’s working for Paramount. Which is what?
Well, a lot of things. Number one, you know, we’re a mid-to-high-end producer and we’re seeing growth in those categories. You know, we vacated the low-end business. Many years ago, we had the foresight to where we wanted to go and strategic planning. And it’s really paying off. So we’ve seen the Internet really drive this up thousand-dollar business and we really start at $1,000 and above today.
Richard Fleck
And so our focus is working and our decisions that we made eight, ten years ago are coming to fruition finally.
Dave Perry
Now you’ve got some very high-end brands. Hypnos obviously is ultra high-end, and A.H. Beard, you’ve got a $15,000 A.H. Beard bed.
Richard Fleck
$25,000.
Dave Perry
I apologize. What do you start at $15,000?
Richard Fleck
We started at $10,000.
Dave Perry
Start at $10,000. Okay. So what is it, $10,000, $15,000 and then $25,000? So why should retailers carry ultra-high beds like that?
Richard Fleck
Well, again, I think what’s happened is, you know, it’s becoming bifurcated where you’re seeing the Internet dominate, you know, sub thousand dollars. And retailers today need to invest in better sleep. They need to invest in better products, and they need to elevate their customer sleep. You can’t do that sub $1000 today with all the price increases and everything that’s happened.
So retailers need to move their focus to the $1,000, $2000, and $5,000 price points and above and really elevate the whole consumer experience. And in today’s world, with what’s happening and we still have plenty of raw material increases, it’s important for retailers to understand that and communicate that to their consumers.
Dave Perry
What is something that retailers may not know about Paramount?
Richard Fleck
Yeah, that’s a great question. I think one of the things that’s fascinating is everybody thinks we started in 2008, 2009, when we separated from our licensing group and rebranded our whole organization. The reality is we’re a family-owned and operated business since 1935. And it’s been three generations of the Diamonstein family, and they’ve done an amazing job navigating this company.
Richard Fleck
And people forget about our background.
Dave Perry
And finally, one thing I like to do in some of these Take 5s is talk about personal sleep. Okay. So to put you on the spot, what kind of sleeper are you?
Richard Fleck
So I’m a backside, start on my back and then go to my side.
Dave Perry
Okay, I’m just the reverse, but that’s fine.
Richard Fleck
And I sleep well. I usually sleep, you know, 8-9 hours a night, you know? And I fall asleep probably in the first 15 minutes. I have a cool pillow and I have a great paramount product.
Dave Perry
I expected no less.
Richard Fleck
Absolutely. Absolutely. And I go to sleep quickly and stay asleep most of the night.
Dave Perry
Sounds good. Well, here’s to more great sleep and to good luck for Paramount. Great being with you again.
Richard Fleck
Thank you very much.
Dave Perry
Good seeing you.
