For a good night's sleep, consumers do not mind forking out lakhs. This could explain why mattresses that cost as much as Rs 1.5 lakh to Rs 2.5 lakh are hitting the market now.
Market leader Kurlon is seeing ‘a growing demand' for its super premium mattress priced at Rs 1.5 lakh. Magniflex, Italian-based mattress brand range has even launched an ultra luxury range priced between Rs 15 lakh and Rs 25 lakh. These mattresses are made from 22 carat gold yarn fabric with the customer's name embroidered in gold. The company also has a premium range priced between Rs 50,000 and Rs 2 lakh.
Mr Sudhakar Pai, Chairman, Manipal Group, that owns the Kurlon brand, is upbeat about the potential market. “People spending Rs 10 crore on a home will not think twice before opting for these mattresses,” he says.
Mr Anand Nichani, Managing Director, Polyflex Enterprises, that is marketing the Magniflex brand in India, however, says that the premium and luxury segment is still very nascent in India. “We are not looking at numbers, but educating customers on the benefits that these mattresses bring.”
Organised segment
Currently only about 30 per cent of the country's Rs 5,000-crore mattress market falls in the organised segment. The average spend on a mattress in the unorganised market is around Rs 2,000 a unit, but branded players peg average selling price at Rs 10,000-Rs 12,000 a unit. Market leader Kurlon's most expensive mattress is priced at about Rs 1.5 lakh and the brand's most sold item is priced around Rs 28,000.
Kurlon is now trying to become more visible in North and East India. “Ideally these two regions should contribute 60 per cent to our sales and we are working towards that by appointing more dealers.” Currently, about one-third of Kurlon's sales come from these two markets.
The company is increasing its dealer network from 7,000 to 10,000 during 2012-13, focussing on these two regions for growth.