From Rs 500 crore in 2020 to Rs 1,000 crore in 2019, Duroflex has grown quickly in just two years. With the achievement of this milestone, the company is now advancing toward a March 2025 sales goal of Rs 2,000 crore. They have made significant investments to increase the capacity of their massive foam and mattress manufacturing facility in Indore, which alone has exported more than Rs 500 crore this fiscal year, to satisfy this demand. As a result, they are currently the only company with a comprehensive line of latex sleep solutions and a fully owned export subsidiary that manufactures latex.
How has the market for sleep solutions fared over the last few years, particularly during the pandemic?
Since our efforts to increase awareness of the value of sleep have been very successful, we are largely responsible for the term “sleep solution” being used after the epidemic. Even during the epidemic, we discussed how sleep strengthens immunity, how to analyse your sleep, and how to choose the best sleep-related items. As a result, one of the top brands in the country is Duroflex. We produce mattresses, but we don’t just make them based on the materials; we also make them based on the demands of the user. There are several options for that as a basis for someone’s sound sleep. It’s more about understanding sleep, how it affects your health and wellbeing, and how you can use your time, money, and efforts to improve it because, in the end, it affects your life. This is true of both the content and the type of conversations we are having. To ensure that we understand the consumer much better and provide the appropriate products, we are also working on innovations and ideas in our products and services that are enabled by technology.
How did it go from 500 crores in 2020 to 1,000 crores or more in 2022, and now you’re hoping to reach 2,000 crores by 2025? What are the causes of this expansion?
Both overwhelming and inspiring. We are utilising a large portion of the opportunity presented by consumers’ awareness of appropriate locations and times. It results from offering a wide variety of products rather than focusing on marketing a single product type to effectively meet various consumer wants. As a result, we were able to comprehend client needs and provide a wider selection than only mattresses. The product line-up is one thing, but we now offer more than just bedding and related items. As an addition, we have expanded our furniture selection to include beds, sofas, and recliners. Whereas we were primarily a regional brand in the South, we are now a national leader in the category for both online and offline sales, making us truly omnipresent. After 2020, the entire geographic internet growth took place. We also conduct direct-to-consumer (D2C) business, which makes up over 30% of our total revenue and comprises both our website and our experience centres.
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