CHENNAI: Hyderabad-based Centuary Mattress plans to strengthen its presence in the southern market with the opening of around 15 experience centers in Chennai, Bengaluru and Hyderabad.
It recently opened its first-ever experience center at Chennai and plans to establish five centers in each three cities in the next six months.
"We are piloting the experience center models in the Southern markets, which have higher penetration of organised players than the national average, and eventually scale into Central, Eastern parts among other places," Uttam Malani, Executive Director of Centuary Mattress said.
We have ambitious growth plans, he added.
The brand hopes to increase its presence to 100 exclusive experience stores by 2025. Currently it has 5,000 retail outlets and 500 exclusive brand outlets, mostly concentrated in Tamil Nadu and Telangana.
Centuary Mattress holds roughly 10% market share in the Rs 4,000 crore organised mattress market in the country, according to Malani. The company has recorded a 30% yearly growth on average and hopes to continue growing at the same rate over the next three years, he said.
It bets on consumer shift to the organised mattress to spur growth. According to him, the organised mattress market consists of just 40% of the total business in the country, though the penetration of organised players in the south is higher.
He said people are focusing more on the orthopedic segment in the last 2-3 years, which is the fastest-growing segment since the pandemic.