Hyderabad, May
28:
US mattress
maker Spring Air is investing Rs 150 crore to set up three new manufacturing
facilities in India.
The first
foreign brand to enter this segment in India, the company is leveraging its
first-mover advantage to grab a bigger slice of the Rs 5,000-crore mattress
market. At least five other top global brands, including Simmons and Sealy,
have big plans for the Indian mattress market. “We have two manufacturing units
in India in Noida and Bangalore. We are putting up another two at Kolkata and
Mumbai, both of which will be ready by next year,” Mr Alok Sharma, Director of
Spring Air India, told media persons here on Saturday.
It produces 500
pieces a day from the existing two units, with the two new facilities designed
to have similar capacities. Last fiscal it sold 1.5 lakh pieces.
The company is
also setting up a PU foam manufacturing unit near Delhi. “We have already tied
up the funds for these three units,” he added. Spring air, which is in the
spring and speciality mattress space says that this segment is growing at 25-30
per cent in the entire mattress market, while the share of coir is declining.
http://www.thehindubusinessline.com/industry-and-economy/marketing/article3466265.ece
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