US-based Culp has acquired majority ownership in the online retailer of bedding accessories and home goods eLuxury through an undisclosed investment.
Based in the US state of Indiana, eLuxury offers a wide assortment of mattress pads, handmade platform beds, cotton bed sheets, and other bedding items.
The company’s products are currently available on the eLuxury online website, eLuxury.com, Amazon, and other online retailers.
Culp mattress fabrics division president Iv Culp said: “This strategic investment substantially expands our addressable market, provides an important new sales channel for Culp in the bedding accessories category, and expands our ability to participate in the rapidly growing e-commerce direct-to-consumer space.
“This business combination brings together eLuxury’s experience in e-commerce, online brand building, and direct-to-consumer shopping and fulfilment expertise with Culp’s extensive global production, design and product development capabilities, and distribution network.”
Culp also noted that this agreement will provide the company with an opportunity to market their new line of bedding accessories, Comfort Supply Company by Culp and other home products, including upholstery fabrics planned for development in the future.
eLuxury founder and chief executive officer Paul Saunders will hold a minority interest in the company and continue to serve in his existing role.
Culp offers a range of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture.
The company serves as a global customer base through its operations in the US, Canada, China, and Haiti.