Kurlon’s growth spree
Kurlon Enterprises, makers of Kurlon mattresses, is gearing up to tap the Rs 6000 crore-plus mattress market in India more aggressively. The company will be coughing up nearly Rs 200 crore over the next couple of years to ramp up capacity, put up new manufacturing facilities, top company officials said.
The Bangalore-headquartered company, at present has five manufacturing facilities for mattress and nine manufacturing facilities for sofa, furniture and other products across five states- Karnataka, Odhisa, Gujarat, Madhya Pradesh and Uttarakhand. The tenth factory of the company is coming up on a 20 acre land in Bhubaneswar. The plant will come up by March, 2018. “Our 11th, 12th and 13th factories are also in drawing board stage. Our current capacity is 1 lakh mattress/month or 1.2 million mattress/year and we would like to grow our capacity by 20-25 per cent year on year,” said T Sudhakar Pai, chairman of Kurlon Enterprises Ltd.
The mattress market in India is growing by 10-15 per cent year on year and Kurlon has been growing 50 per cent more than the industry growth rate. Of the Rs 6000 crore mattress market in the country, one-third is organised sector and two-third is unorganised sector. The plan is to eat into this large unorganised sector and grow further from there. Significantly, the mattress market, which is currently dominated by the unorganised players such as local manufacturers having their own manufacturing units amo-ng others has been observing a structural shift. India’s organised mattresses market has been dominated by major players such as Kurlon, Springwel, Sleepwell, Peps Industries, Coirfoam and others. Kurl-on’s market shares vary from state to state between 30 and 70 per cent.
Kurlon has now rolled out its Kurlopedic technology, which adds comfort to perfection. It is loaded with new features like advanced centre densification, vertical orientation of coir fibre, zero pressure point and motion separate index.
The company has also lined up an ambitious retail expansion plan. “Our plan-ned expansions willnot only increase the visibility of the brand, but will also give state-of-the-art stores to consumers,” says Ravi Sahgal, EVP & business head, Kurlon.