19:31 (GMT +7) - Wednesday 13/11/2019

Business

Vua Nem elects new Board member

Released at: 19:49, 15/10/2019

Vua Nem elects new Board member

Photo: Vua Nem

Vietnamese mattress retailer elects head of leading US e-commerce retailer to Board of Directors.

by Minh Do

The Vua Nem JSC has elected Mr. Craig Schmeizer, Co-founder of Resident Home, the parent company of Nectar Sleep, a leading US online and D2C (Direct to Consumer) mattress brand, as a member of its Board of Directors.

Mr. Schmeizer will advise the Board on digital marketing, help lead the company’s strategic plan, and assist its management team in further accelerating growth.

“I am honored by the trust placed in me by Vua Nem’s founders, Board, and investors to help Vua Nem continue to grow and build consumer trust as Vietnam’s leading sleep product retailer, and I am excited to have joined its Board,” he said. “It is very exciting to help Vua Nem’s team extend on its industry leading growth and success. My hope is to bring added creativity and experience to Vua Nem to help deliver unique gains for Vietnamese consumers and the company’s shareholders.”

“The addition of Mr. Schmeizer to our Board of Directors, bringing extensive experience in marketing and in building a large company, will help Vua Nem achieve further growth in the future,” said Mr. Nguyen Vu Nghia, Chairman of the Vua Nem JSC. “The combination of his senior executive experience at global corporations and proven entrepreneurial skills at startups and growth companies make Mr. Schmeizer uniquely equipped to help guide our agenda and focus our execution.”

Vua Nem’s development strategy connects best-in-class retail and digital marketing to guarantee the market and customers understand the importance of sleep and mattresses.

Mr. Schmeizer attended New York University from 1990 to 1994, where he studied Anthropology and Humanities, and was later accepted at Harvard. The Resident / Nectar Sleep case study is now taught at the Harvard Business School.

Prior to co-founding Resident Home, Mr. Schmeizer was Executive Vice President of Marketing and Strategy in the Credit Card Division at JPMorgan Chase, President of JP Morgan Chase’s Insurance subsidiaries, and Board Member of its insurance businesses.

He also served as Senior Vice President, Marketing & Customer Acquisition, at Providian Financial, a top 10 US consumer credit card issuer focused on the mid-segment, until Providian was acquired by Washington Mutual in 2005.

Before that, he was Corporate Vice President at The New York Life Insurance Company, directing marketing in international markets and group and association marketing.

Mr. Schmeizer previously spent four years with HSBC as Vice President of Credit Card Marketing for North America. He also served as Co-Chair of the International Council of the Direct Marketing Association.

Resident Home is a leading e-commerce and retail mattress and furnishings brand in the US and the UK that developed the market-leading online mattress brand Nectar Sleep. Resident followed with three additional leading mattress brands: Dreamcloud Sleep, Awara, and Level Sleep, and expanded into the furniture sector with Wovenly (rugs), Bundle (couches) and Cloverlane (full furniture offerings).

The company distributes through e-commerce and a network of more than 1,500 partner stores and sales this year have been estimated at $400 million, which is only Resident’s third year of operations. Resident was named the fastest-growing e-commerce retailer in North America by Internet Commerce and Digital Commerce360, in a review of the Top 1000 internet e-commerce companies.

Vua Nem has grown rapidly since receiving investment in 2017 from Mekong Capital, Vietnam’s leading growth equity investment fund. It has expanded its network to 59 stores in 19 cities and provinces in Vietnam and is executing a plan to grow to 300+ mattress retail stores by 2023 and be the leading mattress and bedding retail chain in Vietnam. Its strategic plan targets an initial public offering by 2023.

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