- The joint venture International Sleep Solutions Pvt Ltd (ISSPL) will manufacture 6000-spring mattresses a month.
- ISSPL’s new factory located in Kerala will commence production by May 2013
- ISSPL aspires to do a business worth Rs.100-crore in the first year.
- ISSPL will get its second plant by 2014-15 and it would be located in Tamil Nadu.
- It’s in the process of exploring the Middle East and South African markets for its spring mattresses.
Kochi, 31st January 2013: In pursuit of its global expansion plans, Eastern Mattresses Pvt Ltd (EMPL), which owns the popular SUNIDRA BRAND mattresses, on Wednesday, announced the formation of a joint venture, namely, International Sleep Solutions Pvt Ltd (ISSPL), in a strategic business partnership with Bam Furn Holdings, South Africa (BFH).
“ISSPL will invest about Rs.10-crore to set up the new state-of-the-art factory. The plant will produce 6000 spring mattresses a month. And, ISSPL’s target is to do a business worth Rs.100-crore in a year’s time”, Eastern Group chairman Navas Meeran disclosed.
ISSPL will manufacture and market superior quality spring mattresses across the country and abroad. ISSPL, according to Navas, will have an exclusive spring mattresses manufacturing facility located at Thodupuzha in Kerala.
He said, BFH, besides making investment in the newly formed venture, will also offer cutting-edge technology and its undisputed marketing acumen thus creating a global cushion for the spring mattresses manufactured by ISSPL.
The spring mattresses would be marketed across the country and abroad under the brand name ‘SUNIDRA.’ To start with, ISSPL will explore the Middle East and South African markets for exporting its spring mattresses, said Eastern Group Rubber Division General Manager (Operations), S.Rajesh.
ISSPL will commence the manufacture of spring mattresses in the first quarter of 2013-14. “The setting up of the factory is in the final stages. So, we should be able to roll out the new product by May this year”, Rajesh said.
ISSPL is also negotiating rights with one of America’s oldest bedding company to manufacture their premium range of bedding products for the niche segment of India.
ISSPL will also have its second plant in place during 2014-15. “We’ve already firmed up our plans on this score. The second plant will come up in Tamil Nadu”, Navas revealed, releasing the new logo of Brand Sunidra.
BFH subsidiary, Simmons South Africa Pty Ltd is a licensed partner of Simmons – world’s leading mattress manufacturer with a staggering 64 per cent growth in market share since 1986. SSAP holds uncompromising quality and absolute customer satisfaction in high esteem.
“BFH and EMPL believe in offering highest quality products to the absolute satisfaction of their customers. It’s this common business philosophy that makes us natural partners”, explained BFH C.E.O and Managing director Iqbal Bam. According to him, the idea is to offer the most comfortable sleeping apparatuses to the customers based on continuous research and innovation.
Bam Furn Holdings is a diversified group head quarter in Stanger, South Africa. Its subsidiaries are the leading manufacturers and retailers of Mattresses and Furniture in Southern Africa under license from Simmons USA and Eclipse USA.
· Simmons SA Pty Ltd
· Eclipse Bedding Pty Ltd
· Majestic Bedding Pty Ltd
· Feilli Designs Pty Ltd
· Technolounge Manufacturers Pty Ltd
Eastern Mattresses Pvt Ltd is a member of the Rs.700-crore worth well-diversified Eastern Group of companies. It’s one of the leading manufacturers of rubberized coir mattresses with about 40 per cent branded market share in the state of Kerala and predominant presence in the rest of India.