Springfit Mattress brand of VFI group acquires 100 per cent stake in Serta Mattress India
VFI Group is known for its luxury and comfortable mattress in retail and is the owner of the Springfit brand, which is sold through a network of 90 Pan-India distribution points and 1,500 retailers.
Today VFI Group proudly announced the buyout of a 100 per cent stake in Serta Mattress, India from its licensee Emirates Sleep System Pvt Ltd. The products will be manufactured in VFI Group factories located in Haridwar, Coimbatore, Meerut, and Vadodara, contributing to Prime Minister Narendra Modi’s “Make in India” initiative.
The aim of VFI Group’s investment is to become the leading expert in the market for luxury mattresses. Additionally, the make-in-India effort will enable VFI Group to offer Indian customers access to luxury overseas experiences through this acquisition. The world-famous mattress brand Simmons Beautyrest is officially manufactured and marketed in India by VFI. The business owns Durfi and Amore International, which are available on Amazon.com, Flipkart.com, and other well-known online marketplaces.
“As a pioneer in offering the most comfortable and luxurious mattresses, it is only natural for us to partner with a brand that’s sought the world over for its excellent range of products. Our premium category, range starts from Rs.75000 to Rs. 5,00,000. We aim to manufacture & sell 20000 numbers Mattress annually. Springfit mattress is already having 50 per cent of the market share in the luxury mattress industry in India. Now with this acquisition, Springfit mattress aims to get 70 per cent market share. This is a step towards becoming the industry leader in the luxury mattress industry.” said Nipun Gupta, Director, VFI Group.
“We are pleased to hand over Serta Mattress, India to VFI Group, a recognized leader in the Indian mattress market, to bring the Serta® brand to millions of Indian consumers. Through the relationship with VFI Group, we will be expanding our products in India and gaining consumer attention,” said Sundar Rajan, CEO of Emirates Sleep System Pvt. Ltd.
In addition to retail sales, Serta, India is a leading supplier to the hospitality industry like Marriott International, Hilton Worldwide, Hyatt Hotels Corporation, InterContinental Hotels Group, Starwood Capital Group, and others.
Source: The Print