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Casper IPO Stymied By Suppliers With 'Divided Loyalties'?

“Casper Sleep is facing uncomfortable questions as it prepares to go public — including the fact that it doesn’t make its own mattresses,” notes a New York Post article. One of its manufacturers, Elite Foam, got sold for $1.25 billion to Leggett & Platt, which makes bed parts for several Casper competitors, including Serta Simmons’ Tuft & Needle, according to sources. “It’s kind of funny that is their chief supplier,” the source said of Casper’s reliance on Leggett. “It would increase the risk for me that their supplier has divided loyalties.”

Read the whole story at New York Post »

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