Q What is the value system of Sheela Foam and how is it helping you in running and expanding the business?
Our company’s value system centres on integrity and transparency, as stated in our vision. Integrity is paramount guiding our actions, while transparency ensures open communication. These values are crucial in navigating challenges. Whether facing industry-wide issues like demonetization and COVID-19, or any other large-scale changes, adhering to integrity and transparency has consistently helped us maintain stability and growth. Our dedication and commitment to society is reflected through our ongoing initiatives for community support under Sleepwell Foundation.
Q In the mattress industry, Kurlon acquisition is one of the biggest events. How will this impact the unorganized sector?
The coming together of Sheela Foam Limited and Kurlon Enterprise, will drive significant positive changes in the organized sector. Historically, the mattress industry has been fragmented, and consistent efforts to enhance quality assurance, innovate, and communicate effectively with consumers have been lacking. Of course, as a company, we hadn’t been doing it enough and consistently either. This acquisition will accelerate the industry’s shift towards more organized, consumer-centric practices. By focusing on well-differentiated innovations, advanced technologies, and improved value for money products, the organized sector can set new standards to enhance consumer’s product experience and category connection.
Our recent brand campaigns and product innovations under the Sleepwell and Kurlon brands aim to raise awareness about the importance of sleep for good health and high-quality sleeping surfaces. These initiatives will boost consumer confidence and motivate retail partners to support sales. We are committed to investing in consistent consumer communication to promote the importance of sleep and high-quality sleeping products. This transformation will ultimately benefit consumers and elevate industry standards.
Q When these two synergies are there, do you mean to say that Sleepwell and Kurlon will be using the backend infrastructure of each other?
We’re not approaching it from a Sleepwell versus Kurlon perspective but from a regional one. We aim to have each region equipped with all necessary capabilities—highquality foam plants, mattress plants, and other inputs. Both products will be manufactured in each region.
Q If you look at the distribution, Sleepwell and Kurlon have different retail models. How does this change in the future?
We are referring to the merging of both brands as the “Plus” concept. Sleepwell primarily operates through Exclusive Brand Outlets (EBOs), while Kurlon operates mainly through Multi-Brand Outlets(MBOs). By leveraging the complementary strengths of each brand, Sleepwell can expand its presence in MBOs through Kurl-On’s established relationships. Conversely, Sleepwell’s strong EBO partners can open Kurl-On showrooms, providing access to both brands in new settings. This synergy will ensure consumers receive the best-in-class products across all geographies.
Q Recently, we saw the “Did You Sleep Well” campaign from Sleepwell becoming viral. What is the idea behind this campaign, and how are you bringing new thoughts into Kurlon’s brand as well?
We drew inspiration from successful strategies in other industries. An emotional brand campaign, combined with a strong product focus, is crucial. Through our “Did You Sleepwell?” initiative, we introduce empathy into the conversation, encouraging people to ask their loved ones a meaningful question, “Did you sleep well?”. This campaign fosters a culture of care and empathy. Sleepwell’s Pro Nexa® mattress features ‘enhanced body recovery’ technology, reflecting our relentless pursuit of innovation and unparalleled sleep quality. Kurlon is gearing up to unveil its latest initiatives in similar lines: a brand campaign aimed at fostering engaging connections and a product campaign dedicated to raising awareness about our exceptional quality offerings. The launch is set for June.
Q How is the response from the mattress industry for the #PhenkoNahiRecycleKaro campaign on sustainability, and how does Sleepwell plan to inform-end customers about this?
ISPF has made significant strides, but India still faces structural challenges compared to other countries where government regulations drive recycling efforts. Consumers here expect value from returned products. Raising consumer awareness, potentially at the brand or industry level, is essential. We have various initiatives planned to simplify product recycling for consumers, but without regulatory support, this remains a challenge for the mattress industry.
Q As the largest mattress company in India, how do you plan to lead the industry in ensuring every Indian citizen has access to a quality mattress?
We have developed VPF technology that brings high-quality comfortable and durable products at an affordable price for rural and semi urban towns as well. Our goal is to replace low-quality alternatives which are not good for health, with technologically advanced products yet affordable. While initial steps show promise, significant developments are expected over a couple of few months.
Q Where will the Indian sleep market beheading in the next 3 years?
We remain committed to our plans, which are poised to contribute to industry growth. Historically, the mattress industry has flourished when per capita GDP surpasses $3,200-$3,300, as seen in the US, Europe post-World War II, Japan, and China. Despite recent challenges like currency fluctuations and COVID-19, India’s trajectory suggests reaching this threshold within 2-3 years. With the increase in disposable income, as consumers fulfill essential needs, their attention is also turning to quality mattresses and sleep products for good health. Consumers are now willing to invest in quality mattresses. Our company holds a positive view on India and the industry, emphasizing the appeal of quality products for consumers. With Sleepwell and Kurl-on brands, we are investing in consumer education and getting them excited about buying branded products with an assurance of quality.