(Alliance News) - eve Sleep PLC shares soared on Wednesday after the mattress retailer entered into a retail partnership with British furniture chain DFS Furniture PLC.
The London-based sleep wellness brand said the partnership will initially cover the dfs.co.uk website, which brings in 2.7 million visitors every month, from March 3.
Shares in eve Sleep rocketed by 79% to 3.13 pence each in London on Wednesday at midday. However, this is still a long way off from their initial public offering price of 101p back in 2017.
Later in the year, eve Sleep products including mattresses and bed frames will be available in the DFS showroom estate. The range will be expanded "at a later date". eve Sleep expects the partnership to increase profitable sales, and boosts its brand and customer awareness in its target customer base.
Chief Executive Officer Cheryl Calverley commented: "This is a very exciting partnership for eve as DFS seek to extend their 'comfort' positioning beyond the living room and bring eve's award winning mattresses to a wider audience. We're incredibly proud to announce this partnership with the UK's foremost furniture retailer, which recognises the strength of the eve sleep product range and brand, continuing the momentum in our UK&I business."
Shares in DFS were down 1.6% to 231.63 pence each in London on Wednesday.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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