Zinus was established in 1979 and grew as the No. 1 tent company with 35 percent worldwide market share in the 1990s. However, the company sold its tent manufacturing business to the U.S. private equity firm(Warburg Pincus) in 1999. It was the aftermath of Asian financial crisis. Zinus attempted to convert its main business into IT(information technology) by investing in internet companies since 1999, accompanying with the dot-com bubble in Korea. As its attempt failed, Zinus had to undergo in corporate rehabilitation in 2004 and was delisted in the KOSPI (Korea Composite Stock Price Index) market in 2005. Nevertheless Zinus was continuously seeking to achieve success again with accumulated core capabilities when it was the No. 1 tent maker in the world. Zinus utilized its relationship with the U.S. retail companies such as Walmart and secured patents based on manufacturing know-how. Zinus changed its core business into manufacturing bed mattresses. Zinus became the world's first company to devise a ‘Mattress in a Box’ business model in 2005 that rolls up compressed mattresses and puts them in boxes. Hence, Zinus shifted its strategy again. By running its own brand business, Zinus succeeded in transforming itself under the concept of ‘Mattress in a Box’ that converts its major distribution channels from brick-and-mortar stores to e-commerce platforms. Zinus became the No. 1 in the U.S. online mattress market. In 2019, Zinus was re-listed in the KOSPI market. Zinus overcame severe crises and failure to diversify. It achieved creating a new market based on core competencies and created a success story.