Paramount Sleep is coming to the High Point Market on a high and historic note.
The Norfolk, Virginia-based bedding producer is celebrating its 90th anniversary this year and will be featuring special anniversary products and promotions in High Point and throughout the year.
As Paramount prepares for its High Point showing at its 330 S. Wrenn St. showroom, here are nine building blocks for success that have keyed the company’s growth over the past nine decades:
1. The company was formed during the Great Depression on Jan. 22, 1935, by three brothers: Harry, Morris and Max Comess. They bought the assets of the defunct Meads Mattress Co. and set up their new mattress company in the basement of their furniture store in Norfolk.
2. The new company had just one employee, a farmhand from North Carolina named Elmus Young. His construction technique was to stuff cotton into mattresses, flatten them with a baseball bat and then to tuft them. He set the stage for the handcrafted mattresses still produced at Paramount today. And tufting remains an important part of Paramount’s quality story to this day.
3. The Diamonstein family, which owns and operates Paramount, became involved in the business at an early stage of the company’s history. In 1936, Albert Diamonstein joined the company as general manager and also invested in the business, acquiring a 25% share. There was a family connection, too, as he was the brother-in-law of Morris Comess. Diamonstein, a seasoned salesman at Norfolk Mattress Co., believed that consumers wanted to buy mattresses that were new and different. His grandson, Richard Diamonstein, is managing director of Paramount today.
4. World War II posed major challenges for Paramount. Raw materials used for mattress construction were rationed during the war, and deliveries were often delayed because of fuel rationing. The company’s ability to persevere through those challenging times gave it the motivation and vision to survive other tough times, including the challenges posed by the Covid-19 pandemic.
5. The second generation of the Diamonstein family joined the business in the 1950s. Arthur Diamonstein, Richard’s father, joined Paramount after serving in the Korean War. He started his career at Paramount as the shipping manager, occasionally driving trucks to deliver mattresses and steadily moving up the ranks to become president in the late 1970s. He brought innovative product development strategies to the company, honed through his enjoyment and appreciation of the mattress manufacturing process.
6. Richard Diamonstein joined the business in 1986. “When I joined the company, my dad encouraged me to understand as much as I could about the manufacturing process flow and to understand as much as I could about what quality means,” Richard Diamonstein recalls. He followed his father’s guidance, immersing himself in all details of the manufacturing process and focusing on what it takes to produce quality mattresses.
7: Paramount’s employees have helped spark the company’s success. “My dad also taught me that quality is not just about what goes into the product,” Diamonstein says. “Our employees have always been a key part of what makes Paramount’s products special. In addition to our third-generation family, we also have a number of employees who are part of multiple generations of families who have worked in the factory, teaching the craftsmanship to the next generation. Longevity of employment in an educated workforce helps us create consistent and high-quality products.”
8. Richard Fleck, Paramount’s president, joined Paramount in 2008. He is the fifth president of the company and the only non-family member to lead the business. The Diamonsteins’ confidence in his abilities convinced Paramount to end a long-standing licensing relationship 15 years ago and to strike out on its own as an independent producer. That’s when Paramount created many of the brands that define its success today.
9: A team spirit drives Paramount forward. Paramount’s management and marketing teams work closely together to grow the business. They have partnered with seven other family businesses to deliver consistent products from coast to coast, enabling the company to service national accounts. “As a team, we take a lot of pride in our products and our reputation, and I am very proud of what we have accomplished in our first 90 years and in what we will accomplish in the years to come,” Richard Diamonstein notes.
His son, Eric, is now involved in the business. He’s on the board of directors and represents the fourth generation of Diamonsteins to serve at Paramount. He’s part of the team celebrating Paramount’s success — and looking for new growth opportunities in the years ahead.
