Business Daily from THE HINDU group of publications
Wednesday, Oct 18, 2006
ePaper
Business Daily from THE HINDU group of publications Wednesday, Oct 18, 2006 ePaper |
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Marketing
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Brands States - Karnataka Spring mattress brand King Koil opens store in Bangalore Our Bureau
"An investment of Rs 20 crore to produce 500 mattresses a day would help the company attain a sizeable market in the country.''
Bangalore , Oct. 17 International spring mattress brand King Koil plans to nurture the nascent Indian market in phases with its own production facility. With a factory in Chakan near Pune to produce 100 mattresses a day, King Koil Sleep Systems Pvt Ltd launched its products early this year through its showrooms in Mumbai and Pune. On Monday, it announced the opening of the third showroom in Bangalore, which will achieve break even in two months at Rs 10 lakh per month. The Mumbai and Pune outlets have achieved the breakeven with a monthly sales of Rs 40 lakh. Fifty showrooms will be opened aiming to attain a turnover of Rs 100 crore in three years.
Market size
Mr S. Sundar Rajan, Director, King Koil Sleep Systems, a subsidiary of Dubai Furniture Manufacturing Co, said that an investment of Rs 20 crore to produce 500 mattresses a day would help the company attain a sizeable market in the country. Stating that spring mattresses' had only a 3-4 per cent of the Rs 700-crore share in the overall mattresses market, Mr Sundar Rajan said his company hoped to strike the early entrant's advantage to evolve the segment with its quality products. He said the target segment for King Koil would be institutions such as hotels, which are expected to account for 65 per cent of its contribution, while the retail segment was expected to give a boost with the growing affluence among the middle class. Armed with the Foundation for Chiropractic Education and Research certification, which endorses products that conforms to designs for spinal care and contours to avert any adverse effects to users, King Koil would be introducing new products soon, Mr Sundar Rajan said.
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