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Sobha Developers forays into lifestyle-products retail biz
Our Bureau
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`Sobha Restoplus' slated for market on Sept 1
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Bangalore
May 31
Real estate company Sobha Developers has forayed into the lifestyle-products retail business with the manufacture of spring mattresses.
The mattress, called `Sobha Restoplus', is slated to hit the market on September 1 this year, said Mr Raghav Menon, Vice-President, Retail.
Infosys Technologies has already placed the single largest domestic order for spring mattresses, Mr Menon said, without disclosing details of the deal.
The mattresses will be distributed through exclusive outlets and other channels. The premium-end products would cost Rs 10,000-15,000.
The target customers are institutions, the hospitality industry, and individual customers, Mr Menon said. Sobha expects to garner a 60 per cent share of the Rs 400-crore market, he added.
Factory
The company last month commissioned a 36,000-sq ft factory in Bangalore at an investment of Rs 17 crore. The facility will produce 200 units a day in the first phase. The factory houses one facility to manufacture spring mattresses and two for furniture.
The next plan is to manufacture office and home furniture, and modular kitchen accessories in the premises soon.
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