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Bulgarian mattress manufacturer out to take over EU market
14
Jul '10
As per management of Bulgarian mattresses producer, TED-BED Jsc, the firm is trying to turn in to a leader in the European market in the medium run.

With an aim to accomplish this target of market leader in a span of 7-10 years, the firm has already begun its work towards getting listed amidst the top 3-4 manufacturers and recognisable brands of mattresses of the European market, informed CEO and owner of the firm, Elin Todorov.

In 2009, TED-BED Jsc had made an investment of around euro 11 million for its production plant in Plovdiv, which spreads across an area of 24,000 square meters. As of today, the factory manufactures around 1,500 mattresses per day and possesses a capacity to raise its output by 3-4 times. More so the firm has around 250 workers and the size and capacity of the plant is ranked in the top three mattress producing factories of Europe.

Currently, the firm shares around 58 percent of the Bulgarian market of mattresses but had clearly made an announcement recently about its ambitious plans of expansion, with respect to its presence and sales, abroad. Merely, around 30 percent of its goods are exported. Having achieved a lead in Bulgaria, TED-BED Jsc is eyeing for the same success in Europe.

UK, Germany, Lithuania, Estonia, Latvia, Spain, Greece, Macedonia, Morocco, Finland, Ukraine, Romania, Serbia, Ireland, Belgium and Netherlands sells TED-BED Jsc products. More so, this Bulgarian producer has also entered in to seven new markets namely, France, Switzerland, Croatia, Denmark, Albania, Italy and Hungary within the first six months of 2010 alone.

Explaining further, Todorov said that, the firm's priority is to expand their foreign markets and goods, by venturing for new markets. Every week, the firm receives about two potential foreign partners and they manage to bag at least 90 percent of the contracts.

Since in 2009, the firm's export turnover was two-times as against the previous year, it is again hoping achieve similar results in 2010. Participation in vital global commercial expos has proved to be successful for promoting this Bulgarian mattress producer abroad.

In the early 1990s, TED was started as a family firm, whose name is an acronym of the names of its founders, father named Todor and his two sons Elin and Dimitar. While the firm first aimed at construction business, it started manufacturing mattresses only in mid-1990s and slowly emphasis was put on manufacturing of mattresses and bedroom goods.

Fibre2Fashion News Desk - India

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