Enterprise Ireland
Annual Report and Accounts 2005
Annual Report and Accounts 2005
In 2005, the prestigious United Kingdom Furniture Industry Research Association (FIRA) awarded its Innovation of the Year Award to an innovative new product from Irish company Kayfoam Woolfson - the Kaymed Visco Airlayer mattress. In the same year, the company became the first manufacturer in the United Kingdom and Ireland to gain certification to use the coveted Safety, Health and Environmental label from the European Association of Foam Manufacturers. In addition, Kayfoam won Supplier of the Year from Europe’s largest bedding retailer, Dreams, an award based on quality and volume sales.
The success of Kayfoam Woolfson is directly due to product innovation brought about by a commitment to R&D and visionary management. As a family-owned business established in 1900, Kayfoam had to undergo dramatic changes to survive and succeed when faced with severe competition from low-cost suppliers in China and elsewhere. The results have been dramatic. Sales in 2005 were €40 million, €20 million of which were exports and a staff of 240 is employed in Dublin and the United Kingdom.
David Woolfson, Director at Kayfoam, says that developing innovative finished products rather than components was the key to the company’s survival and success. He says: "We were under pressure for a price war but we wanted to go higher up the retail chain. We downsized the scale of the company and focused on product development, marketing, branding and positioning. We worked very hard on R&D. We had significant support from Enterprise Ireland and without it we wouldn’t have been able to make the breakthrough we did."
Kayfoam used Visco technology which was first developed by NASA to cushion astronauts, to create its flame-retardant memory foam mattresses. The company was almost overwhelmed by customers when it showcased at a trade show in the United States. However, consumers were concerned that a mattress without springs might 'sleep warm’. Kayfoam was already addressing this and with the assistance of Enterprise Ireland, the company resolved the issue with its award-winning Visco Air-Layer mattress range.
This product is a quality, luxurious mattress that through temperature sensitivity can recognise a body’s shape and reduce pressure points. It is also inherently flame-retardant. It targets the high-end retail market and the healthcare sector. It positions Kayfoam at the forefront of its industry, clearly differentiated from its competitors in global markets.
Kayfoam is well positioned to go from strength to strength and the company is due to launch its new range of products in January 2006, called Numuru, the Japanese word for sound sleep.
www.kayfoamwoolfson.com (link opens in a new browser window)
