Mattress firm to set up 25 brand stores in TN by 2020

Doubling revenue every three years is the strategic path that the threedecade-old mattress major has taken to reach Rs 1,800 cr mark by 2025. It has on-boarded tennis sensation Sania Mirza as its brand ambassador. Uttam Malani, ED, talks about South connection and more with DTNext. Excerpts:

 South is the major market for comfort and bedding industry in the country and TN is shaping up with modern retail trade focusing on bedding and comfort sales. There  is certainly a shift happening from cotton mattresses towards branded mattresses as we witness gradual increase from the customers in this region for branded mattresses.  As part of our efforts to tap the potential, we are planning to expand our reach in terms of distribution setup and product availability all across the state. We are looking at opening 25 exclusive brand stores in TN by 2020. 

We have been maintaining our growth at a CAGR of 18-19per cent per annum which is much better than the industry growth rate of 10-11per cent over the past decade. Currently, TN contributes around 11per cent to our total sales. 

Centuary Mattresses operates through its 3 plants in the country – 2 in Telangana and 1 in Odisha. The total manufacturing capacity of these plants is 6 lakh mattresses per annum. We have plans to double our manufacturing capacity every year and keep expanding our market reach in newer geographies with innovative product placements. With this objective of expanding our reach in West and North India, we are exploring one new manufacturing plant in either Gujarat or Madhya Pradesh to add another 2.5 lakh mattresses per annum to our manufacturing capacity at an investment of around Rs 50 crore. 

With a strong order book and a robust pipeline of innovative products, we are expecting a growth of around 40 per cent in FY 2019. In the long run, a  strategic plan has been devised and we are aiming to double our revenues every 3 years to achieve our target of Rs 1,800 crore by the year 2025 and the top position in the domestic industry. 

Centuary Mattresses is present with over 3,000 dealers and above 200 exclusive brand stores. We are planning to open another 100+ Brand Stores in the year 2018-19 in various states.