The Telegraph's Business Correspondent doesn't pull any punches talking about Eve. This article below is about their upcoming float and massive losses as a company. It costs them £250 to sell every mattress thanks to their marketing! 15% of customers return them. For those thinking they're getting a 10 year warranty with Eve mattress, think again. They might not be around next year at this rate!
Eve? You’d do better to stuff money under a mattress
There’s an old episode of The Simpsons in which Ranier Wolfcastle, a musclebound Teutonic action star, is interviewed about his new film. It’s an $80m production that he describes as “just me in front of a brick wall for an hour and a half”.
His exasperated interviewer, a highbrow film critic, demands to know how he sleeps at night. Wolfcastle deadpans: “On top of a pile of money with many beautiful ladies.” One wonders whether the people behind the stock market debut of Eve Sleep, a mattress seller that is raising £35m on Aim, might give a similar response if they were being candid. They must have been in dreamland when they put a £140m valuation on a company that made sales of just £12m last year.
Forget about profits and dividends “in the short and medium term”. Eve, which delivers vacuum-packed slabs of foam that top out at £950, says it want to spend all its earnings on marketing to increase its share of a fluffed up and absurdly defined “European sleep market” that it claims is worth £26bn. Eve-branded pyjamas and furniture offer massive opportunities for growth, we’re promised. Not that there are any earnings. It made a loss before tax of £11.3m last year, up from £1.5m over the previous 15 months .....
)
but I would expect there to be sufficiently robust material betwen the springs and mattress base to avoid a spring going through a 1" gap.