Comments
Online furniture and home products marketplace Pepperfry is looking to boost its house brand business with the launch of 12 Pepperfry Snooze Studios. The Studios which are designed to be experiential centres will showcase Clouddio, its private label mattress and sleep gear brand as well as soft furnishings such as bedsheets, comforters, quilts, pillows and cushions.
Of the 12 stores spanning a carpet area of 700-1,000 sq ft, four are standalone stores in Gurgaon and Mumbai and eight are store-in-stores within existing Pepperfry Studios in Mumbai, Delhi and Bengaluru. Launched in January 2018, Clouddio is one of Pepperfry’s 10 house brands in the furniture, bedsheets, lamps and carpets categories, including Woodsworth, Mintwud, Casacraft, Amberville, Bohemiana, Mudramark, among others.
“The contribution of house brands to our furniture business is 55 per cent. We are targeting ₹2,000 crore revenue from our house brands business by FY 2021, of which we expect Clouddio will contribute ₹500 crore” said Ashish Shah, founder and COO, Pepperfry.
The plan is to launch 30 Snooze Studios in Bengaluru, Mumbai and Delhi during the current fiscal.
At the Snooze Studios, customers can touch and feel products through interactive pull-out units and learn about mattresses while experiencing the products in elevated bedroom like set-ups. The Studios have window displays, sleep trivia and in-store experts to guide customers in purchasing products based on preferences and budget.
Pepperfry has built a network of 65 Pepperfry Studios in 22 cities, of which, 53 are company-owned-and-operated and 12 are franchise stores. “We plan to open 100 Studios by March 2020 and expand in our top eight markets including Bengaluru, Mumbai, Delhi/NCR, Pune, Ahmedabad and Chennai,” said Shah.
The $3-billion mattress market in India, of which 30 per cent is organised, is growing at 10-15 per cent annually and is estimated to grow at 20 per cent in the next few years. The market is predominantly offline, dominated by Sheela Foam (Sleepwell) and Kurlon.
Pepperfry will face stiff competition from online mattress firms like Sunday and Wakefit and many other small players like Wink Nod, Nubliss, Sleepy Cat, Durfi, Flo, Springtek. Even Amazon has entered the space with Solimo brand.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.