Harry Chua, Chairman & CEO at Hersing Corporation Limited, does not just sell a house to buyers, he sells mattress as well.
Two months after Hersing Corporation launched the Dozz Mattress salesroom at its main office located in Toa Payoh, ERA Singapore’s holding company has its eyes on the prize as it goes for gold.
Today, at an exclusive launch with people from the Lamborghini and Ferrari jet-set, it will launch a $50,000 worth of mattress, covered with 22-carat gold from an Italian brand, Magniflex.
This new business undertaking will add a new dimension to Hersing’s ventures in various industries like storage, money transfer and real estate.
Hersing holds ERA’s local franchises and the Western Union remittance agency. In 2003, the firm set up Storhub, a totally-owned self storage business that has developed and expanded to five different sites in Singapore.
Jack Chua, President at Hersing, said that the firm’s decision to offer mattresses is a bold move that makes a lot of sense. “After buying a house, the customer needs a mattress. We’re just providing them with a customer service,” he explained.
With 18 different brands of mattresses, the salesroom’s monthly revenue has grown by 30 percent since its soft launch in May. Hersing expects that the salesroom will break even at month’s end, according to Harry Chua.
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Hersing is presently considering a concept involving a mega-retail mattress depot for the group’s foray into markets from other Asian countries.
Although the Magniflex Gold, a king-sized and personalised mattress with a cover lined with gold threads, may be too pricey for most buyers as it sells at an eye-popping price of $50,000 apiece. A much cheaper normal Magniflex variety is also available at $1,298 each.
Over 100 Magniflex Gold mattresses have been put up for sale around the world, and the gold thread is being advertised because of its anti-static and anti-bacterial qualities.
Despite the recession, Harry Chua is unflustered by the thought of selling the Rolls Royce of the mattress industry to the crowds who mostly own Ferraris.
”If you can pay a million dollars for a car, what is $50,000 for a mattress in which you spend eight hours a day? I think we will do very well. As well as Storhub,” he noted.