US-based Sealy to set up mattress mfg plant in Hyderabad
Sealy, the US-based mattress company announced to establish its first mattress manufacturing plant at Medchal in Hyderabad, with an investment of $2-3 million. This will commence production by the end of 2023 or early 2024, said GSS Jagannath, Director of Sealy India here on Monday.
image for illustrative purpose
Hyderabad: Sealy, the US-based mattress company announced to establish its first mattress manufacturing plant at Medchal in Hyderabad, with an investment of $2-3 million. This will commence production by the end of 2023 or early 2024, said GSS Jagannath, Director of Sealy India here on Monday.
He opened the company's second company-owned store 'Sealy Mattress Gallery' in the city, while the first one is in DLF Mall of India, Noida. This newly opened store is spread over 1,000 sq ft, and it is located in Midtown Plaza, Road No 1, Banjara Hills.
Sealy has 24 other stores in major cities of India, including Delhi NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Coimbatore, Erode, Tirupur and Indore. Most of these are franchisee-owned. This Mattress Gallery will be the 25th store overall, and the third store in Hyderabad.
On the occasion, Jagannath said: "The Gallery showcases mattresses ranging from Rs 68,000 to 8 lakh. Here mattresses are designed to match the Indian customer's requirement, while keeping in mind the Indian lifestyle and climatic conditions."
The Indian organised mattress market is around over Rs 15,000 crore out of which premium and luxury mattresses command 2-3 per cent of market share. The luxury mattress market is growing more rapidly than the overall branded mattress market, which is growing at 12-15 per cent annually.
"Sealy falls into the premium and luxury segments, and is targeting a decent share in the competitive market. Seeing this opportunity, we had decided to put up our first plant in Hyderabad by 2021, but it was delayed due to Covid-induced restrictions," he added.
