New Delhi, India — Sheela Foam will introduce a new luxury range of Comfort Cell polyurethane-based foam mattresses in October.
The company said it will make the mattresses in either in Surajpur, near Greater Noida, Uttar Pradesh or Kalamb, Maharashtra. Comfort Cell will be priced at INR 100,000 (about $ 1,540) each mattress.
Earlier, in 2016, Sheela launched its Perfect Match foam mattress range. These are customised to consumer preferences and are being manufactured at the Kalamb unit. That product line accounts for about 20% of Sheela’s mattress production.
India’s mattress market is worth INR 150 bn/year ($ 2.3 bn). The cash or unorganized sector accounts for between 60-70% of that and Sheela Foam may have up to 35% share of the remainder said a Sheela spokesman.
He added that Sheela is growing consistently at the rate of 15-20%/year and that the firm aims to double turnover of its foam business in the next five years.
Sheela expanded production with a new plant in Siliguri, West Bengal in the second half of 2016.
Conversions: Xe.com 27 September 2017