Home / Knowledge / News / Textiles / Mattress maker Springfit to spend Rs 5bn on expansion
Mattress maker Springfit to spend Rs 5bn on expansion
05
Dec '12
Delhi-based mattress producer Springfit plans to spend Rs. 5 billion over the next two years to expand its production facilities and marketing activities.
 
The company intends to set up four manufacturing units in metro cities to meet the demand of those specific regions, Economic Times said quoting PTI.
 
The four new facilities would enable them to deliver products to consumer’s doorsteps in a reasonably less time, Springfit Sales and Managing Director SK Malhotra informed PTI.
 
Mr. Malhotra also said the company intends to add around 35 exclusive showrooms to its existing strength of 12 showrooms, over the next two years.
 
On funding of the investments, Mr. Malhotra said that it would mainly be managed through borrowings from banks.
 
Springfit currently has a turnover of Rs. 500 million and the company intends to increase its annual sales to Rs. 2 billion by 2014.
 
Presently, the company undertakes production of spring mattresses in it two Haridwar-based factories. Besides, it has also set up a new foam-based mattress manufacturing facility at Meerut, which would commence commercial operations from coming January.
 
As per the industry estimates, only around 8-10 percent of India’s Rs. 70 billion mattress market is in organized segment.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

Textiles | On 28th Feb 2017

Over 100 exhibitors expected to participate in IATF

Over a 100 exhibitors are expected to showcase their products at the...

Apparel/Garments | On 28th Feb 2017

Q4FY17 operating income drops 8% at L Brands

Operating income at apparel brands marketer L Brands decreased 8 per...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search