Moneycontrol
Get App
Last Updated : Apr 16, 2019 04:15 PM IST | Source: Moneycontrol.com

Kurl-on sees Spring (Air) in its revenue, to double to Rs 2,200 crore in 2 years

The company plans to open 2,000 stores in the next few years

Himadri Buch @himadribuch
Answer: Kurl-On (Kurl-On/Facebook)
Answer: Kurl-On (Kurl-On/Facebook)

Kurl-on has acquired international mattress brand Spring Air for an undisclosed amount, the Indian mattress and home furniture brand announced in Mumbai on April 16.

“The acquisition will strengthen our presence in the premium bedding segment, besides enabling us to meet the fast-growing demand in the hospitality sector. The acquisition is in line with our aggressive expansion strategy of increasing our product portfolio and retail presence,” Sudhakar Pai, Chairman and Managing Director, Kurl-on, said.

He sees Kurl-on’s revenue doubling to Rs 2,200 crore by FY21 as a consequence of this deal, adding that the company plans to open 2,000 stores in the next few years.

The acquisition will give Kurl-on access to Spring Air’s operations across India, Bangladesh, Sri Lanka and Pakistan. Spring Air and Englander brand of premium mattresses will now also come under the Kurl-on umbrella.

Kurl-on sells about 12 lakh mattress each year from its 10 manufacturing facilities spread across Karnataka, Odisha, Madhya Pradesh, Uttarakhand and Gujarat.

Spring Air's products will now be sold across Kurl-on’s 1,300 exclusive franchise outlets, over 7,000 multi-brand outlets and 93 Kurl-on Home Komfort stores. Prior to the deal, the niche and specialised mattress brand manufactured its bedding products from its two manufacturing centres and continues to retail from 400 high end retail stores.

Kurl-on was founded in 1962 by Ramesh Pai while Spring Air was founded in 1926 by Francis Karr.
First Published on Apr 16, 2019 04:15 pm
More From
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant