Press Releases
May 26, 2004 - Middlesex, NJ
Lloyd & Penfield sitting at the top of the Therapedic
brand pyramid
At the top of the Therapedic brand pyramid sits its
exclusive, high-end product line Lloyd & Penfield.
The line is a price-protected collection. It is unique
in that it features just one price point -- $1,999.95.
"There are many luxury bedding lines which compromise
the integrity of both the luxury construction and premium
position of the brand when they yield to the pressures
of offering a top-end product at promotional price points,"
said Gerry Borreggine, of Therapedic. "This line is
different," he said.
The Lloyd & Penfield line features four different
models - all with box pillow-top constructions. Each
model features a different proprietary comfort, based
on the use of different fill and coil constructions.
One model features a 3-inch layer of Visco memory foam
in the box quilt; another model features a 3-inch layer
of pure latex in the box quilt; another a combination
of Visco and pure latex on the surface; and yet another
features a 3-inch pocketed spring nestled inside the
box pillow-top.
The line is richly steeped in Therapedic heritage.
The Penfield name represents the product's lineage to
Therapedic's Syracuse licensee, Penfield Bedding, which
was founded in 1892.
William Lloyd is the pseudonym used by the line's
creator, Texas licensee, Joe Roff, who designed the
specifications and unique cosmetics of Lloyd & Penfield.
"The response to this product has been phenomenal'"
said Roff. "Last week a buyer of a furniture store said
the pocketed spring model was the best feeling bed he
ever felt - at any price."
One of Lloyd & Penfield's distinguishing differences
is the dramatic point-of-purchase materials, which highlights
the products on a retailer's floor. Each model is distinguished
by a color-coordinated, velour sashes, pillowcases,
labels, and matching corner guards.
"It makes quite an impression on everyone - retailers
or consumers, alike - who sees this presentation. The
cosmetics and support material are first class," said
Roff.
While the luxury bedding market is getting crowded
with the numerous entries from many of the bedding manufacturers,
Lloyd & Penfield is aiming to be different.
"Luxury bedding was not designed or intended to be
$899 on a retailer's floor. It defies the logic of sound
business to expect an $899 bed will deliver the retailer
a bona fide luxury product to sell, or the consumer
a legitimate high-end luxury product to purchase," said
Borreggine.
"This product is different. Its positioning, its look,
and its feel, all justify the price point and more.
This is a collection that will make a lot of people
happy - both retailers and consumers alike," he said.
Initial reviews on the line from retailers have been
very strong. Lloyd & Penfield was shown at High Point
by Niles Cornelius, COO for Therapedic Mid-Atlantic.
He reported rave reviews from almost ever retailer who
saw the line.
"You know from experience when you have a hit on your
hands" said Cornelius. "This is a hit, a bit hit."
"The very first customer who we showed it to told
us that they were dropping a similar product line from
the leading brand and replacing it with Lloyd & Penfield,"
he said. "Retailers have really connected with the product
and the simplicity of presenting a one-priced premium
product to the consumer," said Cornelius.
Stuart Carlitz, president of Therapedic New Jersey
agreed.
"When we show this line to a retailer, it opens their
eyes and shows them just what Therapedic can do," he
said.
"This product proves that we can go into a retailer
and now dominate their floor. We can bring them promotional
and specialty bedding. But with Lloyd & Penfield, we
can also deliver a true top-end product line that not
lonely looks and feels good, but it checks at retail,
too," he said.
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