From retail outlets to Premier Inns, Hypnos beds are becoming an increasingly familiar sight around the UK. In its last financial year, Hypnos increased the size of its stockist base by 18% – predominantly independents – and has grown at a similar rate for the last three years. Paul Farley visited the bespoke bed-maker’s factory in Princes Risborough to talk to retail sales director James Keen about the company’s ongoing success …
Hypnos’ factory is a curious sight. On the one hand, it’s a clean, well-staffed operation, optimised for lean manufacture and the precise delivery regimens demanded by the likes of John Lewis, creating a steady output of high-quality mattresses and divans. On the other, it’s a facility curiously bereft of machinery, its skilled staff working in teams to hand-craft and finish items from an enormous range of SKUs. I’m not sure I’ve ever seen a factory so large, yet so reliant on people.
“We are quite inefficient in some ways,” admits James Keen, “with lots of bespoke work, and a huge product portfolio. But, at the end of the day, we’re giving our retailers and their customers what they’re asking for.”
In short, what the company’s process lacks in automation, it makes up for in flexibility, and Hypnos is more than happy to deliver what its customers want. Judging by the company’s growth over the last three years, its approach is working. “We have a very diverse customer base, so we have to be flexible,” says James.
Hypnos works with a mix of multiples – the likes of John Lewis, House of Fraser and Dreams – and independents. To James, having the right mix of business is vital. “John Lewis is stringent in its approach,” he says, “but the quality levels we have to adhere to for them benefit everyone else.”
Hypnos employs around 300 staff in Princes Risborough and at its contract division in Long Eaton. The company’s commercial flag is flying high right now, comedian Lenny Henry’s endorsements echoing through Premier Inn’s widespread advertising.
James sees consumer branding as crucial to Hypnos’ growth in the UK, so expect the company’s presence to grow through both print and digital media.
While Hypnos is committed to the trade, and reliant on the AIS and Minerva buying group shows, and NBF Bed Show – “the best thing that’s happened to our industry in a long time” – to engage stockists, branding exercises such as last year’s one-off Coronation Festival at Buckingham Palace for Royal Warrant holders have worked “very well” in carrying its message to a wider audience, so it’s reasonable to expect more activity in this arena.
Hypnos does export, but, like every other area of the business, its approach is “slow and considered”, and retaining control is paramount. Partners in foreign territories are selected carefully, and generally given exclusive distribution rights to Hypnos’ premium beds, such as the new Royal Comfort Collection.
“We are quite inefficient in some ways, with lots of bespoke work, and a huge product portfolio. But, at the end of the day, we’re giving our retailers and their customers what they’re asking for”
It’s in UK retail that the bulk of the company’s business and growth – lays. “We are still very heavily focusing on the UK – it’s by a long way the biggest and most important part of our business,” says James.
“The last recession was so deep and long, it’s made everyone think about their future planning. There’s certainly more positivity than there has been for a good few years. It’s still mixed – some parts of the country are doing better than others – but I see more retailers investing in their shops.
“The consumer is more demanding now than ever, no question. They want great value, and know to shop around – but retailers know they have to adapt. I think we are going to see a continuing trend of indies closing – not always because they are bad businesses – but I don’t see the landscape changing that much in the next 10 years. There’s some really solid businesses out there, plenty of great independents.”
In product terms too, Hypnos’ approach is measured and conservative – but it seems to be working. “Basically, we manufacture tailor-made mattresses and beds to order and supply them via our retailers,” says James. “If we continue to do a good job with that, we’ll move forward.
“Sometimes, I think there’s innovation for innovation’s sake. People just want well-made mattress, with nature’s finest fillings, a reassuring long guarantee and good value for money. The consumer buys a mattress or bed so infrequently – they might like the idea of innovation, but can actually end up being put off by it. With innovation comes more choice yet more confusion.
“I’d rather stay focused. That said, we do have some big things up our sleeve.”
