King Koil, a 108 years old U.S. based mattress company with presence in 60 countries across the world, which commenced its Indian operations, with exclusive showrooms in Mumbai, Pune and Bangalore, in March 2006, intend to open at least 50 exclusive outlets over the next 18 months.
King Koil is targeting a Rs 100-crore crore turnover at the end of the third year by manufacturing and marketing a whole range of mattresses reports Business India. The price range of the products (single size mattress) ranges between Rs 6,000 and Rs 35,000.
“The market size of mattresses in India is estimated to be Rs 700 crore. We want to garner a sizeable share,” said King Koil Sleep Systems Private Ltd director S Sundar Rajan. According to Rajan, the spring mattress market in the world has 80 per cent share of business whereas in India, it is just about 3 per cent.
“It clearly shows that the product category has not evolved. The Indian market has witnessed revolutions in many segments. But the face of the mattress industry has not changed even today due to non-availability of quality products. We are set to change this scenario,” he stated.