A partnership has been inked between Hyderabad (India)-based Shree Malani Foams Pvt. Ltd., a leading player in the PU (polyurethane) foam market in the country and the maker of mattresses under the Centuary brand and Sweden-based global furniture retailer IKEA, which is planning to open 25 stores in India by the year 2025.
Notably, Centuary brand is one of the oldest and leading manufacturers of sleep solutions in the Indian mattresses market.
After the partnership, Shree Malani Foams has got the rights to manufacture roll-pack mattresses in line with IKEA’s requirements for its India and global stores. Initially, the manufacturer will reportedly start supplying mattresses to IKEA stores in the Middle East region.
“In order to cater to IKEA, Shree Malani Foams Pvt. Ltd. has invested an additional Rs. 15 crores in setting up an add-on facility at its existing Chegunta plant,” Siddharth Malani, Managing Director of the textile company was quoted as saying in media reports. For now, the Chegunta plant will manufacture 10,000 mattresses monthly.
Malani also informed that the Swedish home furnishing firm is keen to go beyond the mandatory 30 per cent local sourcing requirement as well but is yet to take the final call.
Further, the mattresses manufacturer is dreaming to note a turnover of over Rs. 200 crores in FY 2019. Shree Malani Foams also has an extensive network of warehouses and regional offices across the country which helps it reach its customers with ease.