Spring Air Extends South Korean Licensing Agreement until 2030
Furniture World News Desk on
Bedding manufacturer Spring Air International has extended its licensing agreement with South Korean bedding manufacturer BMB Co., Ltd, until 2030, granting the licensee the rights to Spring Air’s mattress manufacturing and sales in Korea for another eight years. The two companies have been working together since 2009.
“BMB has been a great partner with us in expanding our business in the country for the past 13 years. They have done a wonderful job with a variety of our brands during that time,” said Nick Bates, president of Spring Air. “U.S. brands continue to perform really well internationally and BMB is yet another example of our licensees who are either re-engaging with us for the future or expanding territories because they are doing so well with our brands.”
Currently, Spring Air is manufactured and sold in more than 34 countries around the world, by 15 international licensees.
Established in 1997 as an OEM division of Hanax Co. Ltd, BMB Co., Ltd., has quickly grown into a home furnishings powerhouse in South Korea with five business divisions manufacturing brands such as Italian Home, Mikasa, Dondi Home, as well as Spring Air. Today the company sells its home furnishings products to department stores and agencies, as well as online and major big box stores across the Republic of Korea.
“At the time [of our initial agreement], we were looking for a well-established U.S. mattress partner that could impress our customers,” said Myeonggul Choi, managing director, BMB Co. Ltd. “Public awareness of the Spring Air brand in the Korean market was low, however people in the mattress industry were well aware of the famous brand from the U.S. We could feel the team had confidence and pride in this brand.
“BMB has grown exponentially with Spring Air as the company continues to introduce new products to cope with a rapidly changing market. During this most recent contract signing process, we could relate very well relate to the new vision of company President Nicholas Bates, the driving force for Spring Air to lead its industry and the reason why it is loved by many customers. We have established a strong, unbreakable bond,” He added.
About Spring Air International
Founded in 1926, Woburn, Massachusetts-based Spring Air International is a Top 20 U.S. bedding manufacturer and widely recognized consumer brand. The company boasts its ability to service retail customers from north to south and coast to coast in the U.S. and is produced in nearly 50 countries through its international network. The company is committed to helping retailers drive business while leveraging its reputation for trust and integrity inspired by its name. For more information, visit www.springair.com.