Mumbai: The Sleep Company (TSC), a comfort-tech brand, is eyeing to achieve profitability by the end of FY25. The company has embarked on its brand-building journey for the last 12 months, with nearly one-third of its expenditure now allocated to brand building. Having launched its 100th store in India, the company is further looking to solidify its market position by enhancing its omnichannel presence. To support this, the company has set its advertising and marketing budget to be INR 80-85 Cr for FY25. While 75-80 per cent of expenditure will be on digital platforms, traditional media spending will be around 20-25 per cent.
In just 4.5 years since its inception, the company has touched a significant milestone of achieving INR 500 crore ARR (Annual Recurring Revenue). It is India’s fastest D2C brand to open 100 COCO (Company-owned, Company-operated) stores in just two years since venturing into offline retail. The company opened its first store in Bengaluru in June 2022.
The Sleep Company is well-positioned to reach the INR 1000 crore revenue mark in the next 2-3 years. This smart goal is the leadership’s strategic vision and will be driven by a comprehensive growth strategy, with expansion plans across India.
The Sleep Company has doubled sales every year since its inception, documenting a 2.3X surge in its sales last year. The company drives 85per cent of its sales from its omnichannel presence, including physical stores and online, through its website. It has the largest market share for office chairs in India, having witnessed a remarkable 10X growth since the inception of its chair category. It is looking to double its market share in the next 24 months with the recent launch of its chair brand, ‘ErgoSmart by The Sleep Company’.
The Sleep Company co-founder Priyanka Salot said, “Innovative products, a strategic omnichannel presence, and a determined focus on customer satisfaction have fuelled our tremendous growth and expansion. Central to our success is our proprietary SmartGRID technology, which gives us a distinct advantage in the market. Our long-term objective is to become the undisputed leader in our field by continually introducing innovative products and expanding our offerings. We believe that integrating AI into our solutions will further enhance the customer experience. We are deeply grateful to everyone who has played a part in this journey and we are concerned about the interest of all our stakeholders. Our commitment to enhancing people’s lives with our top-notch sitting and sleep solutions is stronger than ever.”
Founded in 2019 by Priyanka and Harshil Salot, TSC is the world’s first and only provider of SmartGRID technology, revolutionizing sleep and sitting solutions. As one of the country’s fastest-growing brands, it is at the forefront of reshaping both the D2C and the omnichannel landscape in the mattress industry. The company offers a host of products including mattresses, sofa, pillows, cushions, bedding, office chairs, smart recliner bed etc.
Commenting on this achievement, The Sleep Company chief marketing officer Ripal Chopda said, “Reaching our 100th store signifies our team’s dedication and the trust our customers have placed in us. Through our COCO model, we control the in-store experience, and our sleep labs give them a first-hand touch and feel of the technology behind our products, elevating customer engagement. We are now gearing up for a new phase of growth, driven by strategic marketing initiatives predominantly towards brand-building initiatives. Our focus will be on creating more personalized and engaging experiences for our customers, leveraging data-driven insights and innovative campaigns to elevate our brand.”
The Sleep Company’s marketing blueprint includes a significant push in digital marketing, driven by a tailored media mix model for each market. These media channels will include platforms such as TV in regional markets, print media, and social media. As part of TSC’s marketing strategy, the company has been leveraging its collaborations with prominent Bollywood and TV celebrities to engage with its existing and potential consumers.
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