Mumbai: Serta, a large mattress brand from the US, on Wednesday made foray into the domestic market with an initial investment of Rs 10 crore through a licensing agreement with Emirates Sleep Systems, which will sell the product here.
The company will target retail customers in the major metros apart from other large cities, the company said.
The company has positioned itself in the premium segment and will offer spring mattresses that has low penetration in the domestic market.
The market for the spring mattress category here is estimated at about Rs 60 crore, while the total market size for all mattresses is more than Rs 800 crore, Serta said.
Emirates Sleep Systems has set up a factory outside Pune with a capacity to manufacture over 200 mattresses a day and later plans to have a plant in the North and the South.
The company has launched 22 models ranging from Rs 28,000 to Rs 1 lakh.
First Published: Wednesday, March 20, 2013, 20:42