Shree Malani Foams Pvt. Ltd is expanding its portfolio via the longstanding partnership it formed with Milliken & Company’s Chemical Business in 2008. About four years ago it began focusing on using Milliken’s Reactint liquid polymer colourants to develop deeper, darker shades of PU foam to help further differentiate its products in the competitive mattress market.
Milliken – the market leader in India for colourant sales for the PU slabstock industry – chose Shree Malani as its partner for the “Dark Color” initiative, recalls Tushar Bhardwaj, Country Manager – Polyurethane for Milliken Chemicals in India. The company says both its CenFlex slabstock foams and Resilia high resilience foam products have benefited from unique dark shades of colours that were amongst the first such foam grades to hit the market. “Our latest development project with Milliken is to bring in a fresh look to our mid- and high-range foams and develop deeper colours across various foam densities, keeping in line with our brand strategy of being a valued-added player”, says Siddharth Malani, MD of Shree Malani.
The company also says it benefits greatly by using Milliken’s digital Reactint Color Studio, which allows users multiple ways to find a Reactint formulation for any Pantone shade.
Springfit aims for Rs 1,200 crore turnover in the next 5 years; listing expected by 2025
Mattress brand Springfit plans to achieve a turnover of Rs 1,200 crore in the next five years, helped by development from home ground and trade markets, says Money Control report. Quoting Springfit Executive Director Nitin Gupta, a Money Control report says that the Delhi-based organization might attempt to get listed on the stock trade in the following 2-3 years. With the fiscal year ending on March 31, 2022, Springfit achieved a turnover of around Rs 250 crore and aims to grow almost double this fiscal year to Rs 450-500 crore.
Springfit is very much confident about doubling its revenue from Rs 1000 to 1200 crore, over the following five years with extension. The greater part of the new gradual income should come from the forthcoming Meerut and Vadodara plants. Besides, the company is expanding its distribution footprint and plans a two-fold jump in the total count of exclusive showrooms.
Sleepsia secures $2 million funding from parent company Agile Ventures
Pillow and sleep accessories manufacturer-to-consumer (M2C) brand Sleepsia has raised $2 million from its parent company Agile Ventures, says The Economic Times report. Sleepsia will use the funding to expand its customer base in tier-II and tier-III cities, the company said in a statement.
“So far, we have served 200k happy customers. And now with the recent funding, we are planning to bring 250,000 more sleepers on board,” Dheeraj Kapoor, Director of Sleepsia said. The company is also looking at a new range of pregnancy pillows, couple pillows, baby pillows, baby memory foam pillows, car pillows, chair pillows, comforters, and microfiber bed sheets.