As a company that put puns first on its rise to popularity, the coronavirus pandemic has forced Denver’s Sheets & Giggles to switch gears.
Like many startups, the eucalyptus bedding company has been hit hard by the pandemic, with sales dropping between 20 to 30 percent in recent weeks.
Despite the impact, the company has stepped up to help out those in need locally.
Sheets & Giggles recently donated 228 twin and twin XL bed sheets to the City of Denver to use for emergency homeless shelters created ahead of the anticipated COVID-19 overflow.
Founder and CEO Colin McIntosh said it was a no-brainer for the company to jump in and help the city shelters that needed it.
“I can’t even tell you what it means that we have 100 people a night sleeping on our sheets in Denver,” he said.
The company also pledged to donate 20% of its revenue for the next 30 days to the Colorado COVID-19 Emergency Relief Fund, created by Gov. Jared Polis, the State of Colorado and Mile High United Way.
To date, Sheets & Giggles has raised nearly $34,000 for the fund.
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While the company has stepped up in this time of crisis, McIntosh admits that the pandemic has created challenges for the company.
A variety of the company’s plans have been altered, including new product lines, an international expansion, pop-up shops and a funding round.
“We were having conversations about raising another round and exploring that, and those conversations have completely evaporated, not due to lack of interest, but because of the general economic uncertainty,” he said.
Before the pandemic, the company was on track to be profitable this year. Now, McIntosh acknowledges an uncertain future.
“I’m hesitant to pop my head up and say we’re going to be 100 percent okay from this,” he said, pointing to the sales hit Sheets & Giggles has already seen.
The company will continue to make hires to build out its team and McIntosh said he’s stressed to his team the importance of taking care of themselves and their family right now.
While an uncertain economic climate can cause anyone to feel uneasy, McIntosh said the company is doing its best to navigate this pandemic and stabilize the business, while also helping those in need.
“Obviously we have our goals and want to hit them, but I started this company to have fun, do good, help other people and be additive,” he said. “If we’re not achieving that, there’s no point to Sheets & Giggles.”
