Centuary Matelas launches ‘The Hybrid Collection’ in the luxury segment

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HYDERABAD, May 18: Centuary Matttresses, part of the Shree Malani Group, one of India’s leading mattress brands, on Saturday launched “The Hybrid Collection”, a premium technology product in the luxury segment, to generate 5% growth in sales. income during the year 20.

Speaking on the occasion, the company’s executive director, Uttam Malani, said the hybrid collection, a technologically first-of-its-kind mattress, uses a seven-layer combination and has introduced the ‘Microspring’ version in this segment for the first time in the industry to target the niche customers demanding high quality products.

The latest foam used in the latest Hybrid collection was imported from Belgium, he said, the new product available in 4 variants priced from Rs 40,000 to 80,000 and offering a 10 year warranty.

Explaining the strategic plans for FY20, Uttam said that the current capacity of the mattress unit in Bhuhaneshwar will increase to 1.50 lakh units per year from 80,000 units and also plans to increase 5,000 points of sale on 3,500 existing ones across the country.

The overall size of the mattress market in the country was 3,500 crore rupees and growing by 8%, he said, the company is growing between 11 and 12% and expects growth of 30 % over the next 5 years.

The market share in Telangana State was 22% and we are on track to steadily increase our revenue to 30% per year and aim to reach the top spot in India bedding and comfort industry, did he declare.

The consolidated revenue of Centuary Matttresses and its sister company Shree Malani Foams was Rs 415 crore in fiscal 2019 and we expect the hybrid collection to contribute around 5% of our revenue for the fiscal year 2020, he added.

Annually investing between Rs 10-12 crore and the current capacity of 3 mattress units located in Hyderabad (2 units) and Bhuhaneshwar (1 unit) was 6 lakh units per year, he added. (UNITED)


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