Fazio Sets Agenda for Simmons as Las Vegas Market Opens
Posted on August 3, 2010 by
LAS VEGAS--Two weeks into his term as president and chief executive officer of Simmons, Gary Fazio detailed his overall goals for the mattress manufacturer as Las Vegas Market got under way.
Speaking to members of the press at Simmons' showroom yesterday morning, Fazio said he intends to "restore the focus of the company as the most innovative mattress manufacturer, very, very professional and very competitive. We need to restore that competitiveness now that we're not distracted anymore."
Fazio was referring to the completion of Simmons' acquisition by Ares Management and the Ontario Teacher's Fund, which also own Serta; and to the company's financial difficulties leading up to the acquisition.
Fazio also said the company must change its relationship with its retail customers.
"We have to work together" with dealers, he said. "The conversations I've had so far with retailers are already more interesting, in that they want to work with us, too."
Fazio assumed charge of Simmons after nearly 10 years as chief executive officer and chairman of specialty retailer Mattress Firm. Previously, he had served in executive positions with Sealy.
"Simmons was the most innovative company in my background," Fazio said. "We want to restore that tradition, and the new ownership has been very supportive."
Part of that support is Simmons' larger, redesigned showroom at room 525 of Building A at World Market Center Las Vegas, Fazio said.
At this show, the company is launching extensions to its Beautyrest Black line--including Beautyrest Black Beyond, priced from $3,499 and up; Beautyrest Black Haute Couture, a limited distribution line at $10,000 and up; and expansions of its Beautyrest Black and ComforPedic collections.