Kochi: Eastern Mattresses Pvt Ltd, which owns Sunidra brand of mattresses, has announced the formation of a joint venture with Bam Furn Holdings, South Africa (BFH).
The joint venture — International Sleep Solutions Pvt Ltd (ISSPL) — will manufacture and market spring mattresses across the country and abroad.
The exclusive manufacturing facility will be located at Thodupuzha in Kerala and ISSPL will invest Rs 10 crore to produce 6,000 spring mattresses a month.
The target is to do business worth Rs 100 crore in a year, Navas Meeran, Chairman, Eastern Group, said.
BFH, besides making investment in the newly formed venture, will also offer cutting-edge technology and marketing acumen, thus creating a global cushion for the spring mattresses manufactured by ISSPL, he said.
The mattresses will be marketed across the country and abroad under the brand name Sunidra.
To start with, ISSPL will explore West Asia and South Africa for export, S.Rajesh, General Manager (operations) Eastern Group Rubber Division, said.
The production will commence in the first quarter of 2013-14. The setting up of the factory is in the final stage and the new product may roll out by May this year, he said.
According to Navas, ISSPL is also negotiating rights with one of America’s oldest bedding company to manufacture their premium range of bedding products for the niche segment of India.
ISSPL will also have its second plant in place during 2014-15. “We’ve already firmed up our plans on this score. The second plant will come up in Tamil Nadu,” Navas said.
BFH subsidiary, Simmons South Africa Pty Ltd is a licensed partner of Simmons – world’s leading mattress manufacturer with a 64 per cent growth in market share since 1986.
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