The upscale mattress maker posted 40% growth in its India revenue for FY23 and is eyeing 30-35% growth in FY24, according to Polyflex India MD Anand Nichani.
| Photo Credit: N. Anand
Europe’s leading mattress brand Magniflex has decided to scale up its operations in India by adding 80 dealers over the next 12 months, said a top official.
“The upscale mattress maker posted 40% growth in its India revenue for FY23 and is eyeing 30-35% growth in FY24. Right now, we have 89 dealers and plans are on to add another 80 to strengthen our brand footprint in India,” said Polyflex India Managing Director Anand Nichani.
Magniflex mattresses have been made in Italy for more than 60 years. It is the only company to produce 10,000 mattresses per day at a single location, according to the company. Magniflex partnered Polyflex in India to introduce technologically-certified mattresses in India.
Asserting that luxury house sales in Chennai in the recent times had surged by an impressive 143%, he said Magniflex had decided to further strengthen its footprint by unveiling the Ergo Tre Electric bed, a luxurious and health-focused product with EMI options called Magniflex Investment Plan of ₹3,535 for 12-18 months.
Operated by a remote control, the luxury bed features ergonomic plates for tailored body support and addresses issues such as back pain, snoring, acid reflux and sleep apnea.
Tamil Nadu, a traditionally conservative market with a preference for gold and lavish home constructions, has witnessed a notable shift in consumer behaviour post the pandemic. There is now an inclination towards investing in opulent lifestyle and wellness choice, he said.
