Spring Air to invest Rs 100 cr to open 100 showrooms in 2 years
American premium mattress manufacturer, Spring Air is all set to invest Rs 100 crore in the coming two years to open 100 exclusive brand outlets across India, says a PTI report.BY Indian Retailer Bureau | Nov 24, 2014 | comments ( 0 ) |
American premium mattress manufacturer, Spring Air is all set to invest Rs 100 crore in the coming two years to open 100 exclusive brand outlets across India, says a PTI report.
Commenting on the expansion plans, Ashok Sharma, Spring Air CEO (India & Middle East) said in a statement to media:"We want to expand in India by opening 100 exclusive showrooms in the next two years. We will invest Rs 100 crore for that.”
Currently, the brand has 30 EBOs in the country. Besides, the stores would be owned and managed by the company. Also, the company is planning to come up with standalone stores in metros and tier I towns.
"We planned expansion in two phases. In the first phase, our focus was on setting up manufacturing plants in all the four regions of the country for timely distribution of our products. In the second phase, we will work on showcasing our full product range through exclusive showrooms," Sharma said.
Furthur, Spring well developed its fourth manufacturing unit, in Kolkata, West Bengal in October 2014, and is aiming a growth target of up to 25 per cent this fiscal.
However, in the previous fiscal, the company reported revenue of over Rs 100 crore. Besides, Spring Air has four manufacturing facilities in Delhi NCR, Mumbai, Kolkata and Bangalore.
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