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To cater to the mattress market in eastern states and export in Nepal, Bhutan and Bangladesh, Peps Industries on Monday announced it will set up a Rs 20 crore manufacturing base in West Bengal.
“We will start a manufacturing base in Bengal within the next few months with an initial investment of Rs 2 crore which will be scaled up to Rs 20 crore within two years,” K Madhavan, MD of Peps India, manufacturer of spring mattress, told reporters here. The Coimbatore-based company is currently looking for land in the outskirts of Kolkata.
“Besides being a large market itself, Bengal is a terminal hub for other eastern and north eastern states as well as Nepal, Bangladesh and Bhutan. Once we start manufacturing here we save on transportation costs,” he said. At present the company has manufacturing bases in Coimbatore, Delhi and Pune.
Peps Industries, which reported Rs 125 crore sales last year, is eying Rs 200 crore sales this fiscal with the total mattress industry estimated to be around Rs 325 crore in India.
Madhavan said they were also planning to open five ‘Great Sleep’ company showrooms in Kolkata through franchisee model.
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