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Repose Mattress, one of the fast-growing companies in its industry, aims to achieve Pan-India presence in a year and targets ?500 crore revenue by 2025 as the Coimbatore-headquartered company is ramping up its presence in non-South regions with the establishment of three factories and entry into new markets.
Started humbly with a 3000 sq. ft. factory in Coimbatore in 2013, the company has grown to become one of the leading brands in South India with a total factory space of 1.5 lakh sq. ft.
“Within 9 years, we have achieved a revenue of ?103 crore (FY22). This type of growth is a record achievement in the mattress industry, and we could be the fastest-growing brand in this industry,” V Balaji, Chief Marketing Officer, Repose Mattress Pvt Ltd told businessline.
In addition to its strong product portfolio and network, its well-crafted innovative campaigns on mattresses have helped the company carve a niche in the mattress market.
While the company initially focused on spring mattresses, in the past two years it expanded to coir and foam products in order to cater to various segments of customers. It presently offers 20 different combinations in its product range, and they are priced in the range of ?5000 to ?2 lakh.
Balaji said that having consolidated Repose’s position in the South, the company has been focusing on ramping up its presence in Western and Northern regions. It has started doing soft launches in various markets.
“We are already available in Maharashtra, Madhya Pradesh, Gujarat, Goa, Chhattisgarh, UP, and Orissa. We have done a fairly good job of penetrating a market like Maharashtra where we have a strong 200-dealer network, which comprises 50 dealers each in Mumbai and Pune. We also have a presence in various other locations in that state. In that way, we are beginning to be a strong brand in Maharashtra,” he added.
Repose will soon be making its products available in Delhi, Haryana, Punjab, Uttar Pradesh, and Rajasthan too.
“We also plan to set up a unit in Kolkata in the next 6 months. From there, we will be expanding to West Bengal, Jharkhand, and other states. Within a year or year-and-half, we will truly be a Pan-India brand,” said Balaji.
To support its expansion and growth, the company is building new factories in Ahmedabad and Hyderabad. It already has factories in Coimbatore, Pune, and Meerut.
For the current year, the company is targeting a revenue of ?200 crores and its goal is to reach ?500 crore mark by 2025, supported by its footprint and production expansion across India.
The company’s expansion comes close on the heels of strong growth opportunities as the estimated ?15,000 crore mattress market has been growing at a CAGR of 15 per cent and is also getting organised, given the shifts in consumer preferences. The organised / branded segment accounts for about 45 per cent of the market now and it is likely to grow further going forward.
Source: The Hindu