Joe Megibow will take over immediately as CEO of Casper Sleep Inc., the retailer announced Friday. Megibow previously worked because the CEO of rival mattress company Purple, which he left in 2021.
“No other mattress brand has cultivated the extent of customer trust and love that Casper has, and it’s our time to leverage this unique position,” Megibow said in a statement. “That is the sleep brand pioneer that disrupted the industry, creating unmatched brand awareness in a sleepy category with a powerful deal with progressive products that support our passion for sleep health. With recent investment from strategic partnerships, Casper is well capitalized and poised for significant growth.”
Megibow replaces outgoing CEO Emilie Arel, who began at Casper in 2019 as president and chief business officer. She became CEO in 2020. Arel will stay on through March to transition Megibow into the role, Casper said.
Casper is No. 143 within the 2023 Digital Commerce 360 Top 1000, a rating of North America’s leading retailers by online sales. Purple ranks No. 250.
Who’s Casper’s recent CEO?
Megibow spent nearly 4 years at Casper’s rival mattress brand, Purple. He was CEO for 3 of those years.
More recently, he served as CEO of wine discovery platform Brilliant Cellars. He also worked as a vp and general manager at Expedia, and as chief digital officer at American Eagle Outfitters (No. 54 within the Top 1000) from 2012 to 2015, in response to his LinkedIn profile.
“Looking back to 2018, after I joined Purple, there was just one competitor to observe, which was Casper,” Megibow said in a LinkedIn announcement of his recent role. “Casper had disrupted the category and built a brand with customer recognition we could only dream about. And here I’m, 5 years later, with the chance to steward one of the best brand within the category and take it to recent levels. I’m thrilled.”
What’s next for Casper?
Megibow’s announcement comes ahead of a brand new line of mattresses for Casper.
Meanwhile, home goods and furniture retailers faced a troublesome environment in recent months. Furniture and residential improvement were among the many weakest categories in December sales, in response to the U.S. Commerce Department. Data from the National Retail Federation found the identical trend.
Last week, online furniture retailer Wayfair (No. 10) announced plans to cut 1,650 employees. That’s 13% of its total workforce and 19% of corporate employees. The news got here just weeks after CEO Niraj Shah announced the business had turn into profitable again.
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