Case study

Reference: IMD-7-1802

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Coco-Mat: The Spartan mattress revolution

By Professor Benoit F. Leleux, Mary Papageorgiou and Sophia Shilimindri-Jaquier

The Coco-Mat case tracks the development of the bedding brand from its initial concept in 1989 to the iconic status it had achieved by 2016. During that time, it went through a progressive refining of its customer proposition and brand values, developed a global retail network and expanded into hotels and wood bikes, among other areas. Back in 1989, Paul and Mike Efmorfidis embarked on a wild journey to develop an original, Greecebased sleeping system company. At the end of 2015, Coco-Mat was running stores in 14 countries, employed 250+ people, most of them in Greece, and this was nowhere close to the end of the story, barely an appetizer. They had started on a beach with virtually nothing, invented new concepts in an industry they knew little about and they could only be described as fairly resistant to change. They withstood one of the worst economic crises ever seen by a country, and they were now discussing further international expansion and accelerating growth. Could they continue to operate with their initial business model? Was it time to solidify the company and install more systems and structure? How could they retain their agility? What kind of culture did they want to establish for the company and leave behind as a legacy? The past had been nothing short of amazing but where should they take the company next?

Learning Objective

  • Managing growth
  • Developing an iconic brand
  • Sustainability in the business model
  • Hospitality
  • Service models
  • Competitive dynamics
  • Synergies
  • Strategic positioning
  • Corporate agility
  • Entrepreneurship
  • Emerging market issues
  • Building on localness
KeywordsBrand Building, Change Management, Corporate Culture, Customer Engagement, Emerging Market, Entrepreneurial Leadership, Hospitality, Innovation, Management, Retail, Social Responsibility, Sustainability
SettingsGlobal
Coco-Mat
1989-2017
TypeField Research
Copyright©2017
LanguageEnglish
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Reference: IMD-7-1802

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Case study

Reference: IMD-7-1802

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