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Spring mattress major Peps is eyeing a ₹1,000-crore revenue from the sale of spring mattress, bedroom accessories and related products by 2025.
K Madhavan, Managing Director, Peps Industries, told BusinessLine that the company’s turnover crossed ₹300 crore in March 2018 and it is targeting to achieve ₹415 crore in the 2018-19 fiscal.
“We have emerged as leaders in the spring mattress segment with a market share of 55 per cent. Incidentally, Kerala has been a major market for us. The recent rains could hamper our business, in the near term, but we hope the situation turns to normalcy soon.”
The company is expanding its distribution network with a special focus on western India, doubling the current dealer strength and adding more Great Sleep Stores – to the existing 46, which are all company owned and mostly in south India.
“We are looking for franchisee model of Great Sleep Stores. We will be adding about 75 such stores during the current year in Bengaluru, Chennai, coastal Andhra Pradesh and the metros,” Madhavan said.
The company will soonbe entering bedroom accessories soon. “Our first such store is ready and will be thrown open this week in Bengaluru,” he added. It is also planning yet another format stores “8 hours”, to showcase its products of different value proposition and price points. “We will be launching this in metros like Bengaluru and Chennai as a pilot,” he said.
On production, he said “our monthly manufacture of spring mattresses was 18,000. This has now been enhanced to 25,000. We have automated the manufacturing process, entered into polyurethane foam as well.”
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