TOKYO — As China grows richer, its people are devoting a bigger share of their wallets to health. And among the essentials of a healthy lifestyle is a good night’s sleep.
Enter the world’s manufacturers of mattresses and bedding, who are eager to sell high-quality, modestly priced sleep essentials to weary Chinese. Although China’s economy is slowing, it is still expanding by more than 6% annually.
Simmons plans to double the number of its stores in China to 410 over three years. It will start producing lower-end products locally for the Chinese market soon.
The company plans to open an outlet in a shopping center in an inland city by the end of this year. It is also developing products for middle-income buyers that are 30% cheaper in hopes of winning over these customers. The high-end products currently sold at its stores in China are imported from Japan, but Simmons will soon start making midrange mattresses at its factory in Suzhou, west of Shanghai.