Mattress and home solutions brand Wakefit.co has created a milestone by crossing ₹1000 crore in revenue in FY24 and notching up 24 per cent growth on year.

The company, which now sells a whole range of furniture, furnishing and home décor products apart from mattresses, has also returned to profitability at the EBITDA level at ₹65 crore.

The company aims to be become profitable at the net level by the end of the current fiscal year, Chaitanya Ramalingegowda, Director and Co-founder, told businessline.

The company expects growth to continue in double digits in the current year as well as it focuses on expanding its range of products on offer, its omni channel reach and invest in brand-building initiatives.

After focusing on mattresses in the first three years of its existence, the company forayed into the furniture category just prior to Covid. “Today we are a complete home solutions company and in the recent few months we have entered a lot more deeply into home decor and living,” Ramalingegowda said.

While mattress is still its core product and the largest selling in its portfolio, “the general direction we are progressing in, we are heading toward the complete portfolio of home products,” he added. The furniture category is growing at 35-40 per cent.

Pointing out that a large segment of the mattress market was still unorganised, he said there was a huge potential in converting that and convincing customers to shop for innovative products.

Wakefit.co has over 80 outlets in 26 cities and the stores were all EBITDA-positive, Ramalingegowda said. The company was adding more stores but in a calibrated way. It expects to get to the 120-mark by the end of the current fiscal year.