"If You're Getting Married This Year, Hurry Your Furniture Shopping" Middle East War Sparks Domino Effect of Bed Price Hikes

Prolonged War and Sustained High Exchange Rates
Rising Costs for Imported Raw Materials and Logistics
Simmons to Raise Prices on Mattresses and More Starting June 8
Tempered Increases Frame Prices by 9% This Month

Bed manufacturers are raising prices one after another due to the high exchange rates triggered by the Middle East war and rising raw material costs. As bed prices, which make up the largest portion of furniture purchased during wedding and moving seasons, increase, consumers are facing greater financial burdens.

According to industry sources on June 2, Simmons plans to raise the prices of mattresses and bed frames by 5% to 10%, and bedding products by around 5%, starting from the 8th. It is reported that Simmons stores are also informing visitors of the upcoming price hikes.

Recently, as the Middle East war has dragged on, the won-dollar exchange rate has exceeded 1,500 won, and raw material and logistics costs have surged, leading to the decision to increase prices. This is Simmons’ first price hike in two years and five months, since January 2024.A Simmons representative explained, “Due to the nature of our premium bed manufacturing process, which primarily uses imported raw materials, it is difficult to avoid rising costs for imported materials and logistics under high exchange rates.”

Tempur also increased the prices of all bed frame products—excluding motion beds—by about 9% from June 1. Price adjustments were made as the costs of key raw materials such as wood, as well as packaging and processing, increased. Tempur had maintained frame prices since May 2022 but has decided to raise them for the first time in four years. A Tempur representative stated, “Due to continued cost pressures, we had no choice but to adjust consumer prices for all frame products starting June 1.”

Duxiana, a Swedish high-end bed brand, has also reportedly increased the prices of all mattress models by 10% starting this month. This is the second price adjustment in about a year, following last year’s increase. Duxiana, known as the “DiCaprio bed,” is a high-priced brand with its lowest prices in the mid-10 million won range.

Although the Lee Jaemyung administration has emphasized stabilizing people’s livelihoods and alleviating the burden of living costs, the distribution and raw material industries have tried to hold off price hikes as much as possible. However, since last year, imported bed brands have begun raising prices. Swedish premium bed brand Hästens raised prices twice in March and October last year, and again in March this year. In December last year, Sealy increased its average product price by about 7.7%. In addition, Zinus raised the prices of all mattress products by 5% to 30% in March last year, and Geumseong Bed adjusted some product prices in June. Overseas imported brands such as Vispring and Hypnos also raised prices last year. Amid these industry trends, the ongoing Middle East war, rising raw material costs, and increased logistics expenses have combined to prompt bed companies to raise prices.

An industry insider said, “Normally, the industry raises prices every one to two years, but the recent increases have been directly affected by increased cost burdens due to the Middle East war.” The insider added, “With the rising costs of preparing for marriage, newlyweds and others who heard about the price hikes in advance are hurrying to purchase furniture.”

This content was produced with the assistance of AI translation services.