
Managing Director of Duroflex Pvt. Ltd.
Q We are seeing a series of transitions in Duroflex from last few years. What is the objective of these changes and how far you have reached in achieving it?
We recently joined the 1000cr club. This tremendous 10x growth in the last ten years came with a lot of hard work, passion, innovation and also a fair share of painful learnings. Our DNA of Integrity, Innovation and Fairness played a huge role in getting us here. Many professionals and promoters worked selflessly with us to get us here, and for that we are very grateful. However, at this new scale and complexity, and looking forward to a 10x growth once again, we felt that we needed to supplement the team. We needed new professionals who have scaled and run much larger businesses. No exciting journey is ever without its share of mistakes and pain, but we felt that some of the learning curve could be shortened with more seasoned professionals. We also felt that it was important to take bold steps towards separation of ownership and management as we wanted to create an institution that will thrive for generations to come. So in 2023 we brought in Sridhar Balakrishnan as our Group CEO. Our new team is well aligned, motivated and methodically building the foundations of an exciting future. We all have a growth mindset and we are making steady progress. I’m very optimistic of success. One day soon, we should go IPO.
Q How mattress as a category doing in the overall Consumer Durables category?
Following the massive growth experienced during the COVID years, I feel that the category has slowed down a bit. Perhaps this was the result of the massive pent up demand in the Covid years. Also, smaller regional players have sprung up and newer channels of sales have developed. Anyway, the real estate sector is starting to boom and we see growth in new flat handovers…and health is growing in importance, so it is only a matter of time before the category bounces back strongly. That said, I think there is now increased competitive intensity, so we have to work much Harder, Better, Faster and Stronger to retain and grow market share.
Q You had very aggressive marketing strategy for Sleepy Head during Covid times. How has the brand established itself? where does it stand now in terms of percentage of revenue?
Sleepyhead was created as a brand for the youngsters of new age India. It has done extremely well to cross the 150cr mark with just e-commerce sales. For growth and profitability beyond this scale, an e-commerce player must go offline. Sleepyhead is now developing an omni-channel strategy. Overall D2C accounts for 25% of our business.

Q Where do you feel the organized and unorganized categories stand now?
I wish I knew! The general census out there says that less than 40% is organized.
Q With increased awareness of health and sleep quality, how do you see consumer preferences shaping the future of the mattress and sleep products industry?
Because of this very important trend, I think we have a few decades of exciting growth ahead for us. I have always believed that sleep is the foundation of great health, productivity and performance, so more and more people will invest in great sleep. I also think that healthcare will move from being diagnostic and curative to being preventive.
Q How is Duroflex incorporating sustainability in its products and operations? What steps are you taking towards eco-friendly and recyclable mattresses?
We market a great range of natural latex mattresses (Natural Living…in fact I sleep on one) and we also used a significant amount of recycled PET in our fabrics and factory roads, but I’ll be honest and say that we aren’t doing enough. But let’s watch this space.
Q The sleep industry is rapidly evolving with innovations like smart mattresses and sleep tech. How is Duroflex planning to tap into these trends?
We have already developed and launched several of these in the last few years. The market wasn’t ready for then, but I’m sure that these will gain traction soon. I am a big fan and user of these.
Q Many international brands are coming to India. Do you think that will eat into premium segment of established Indian players?
The premium segment in India is still very small. I think international brands will help to improve the awareness and education and will expand the market. Many will want a string Indian partner, and we are evaluating several such proposals.
Q How Duroflex is planning to attract the attention of the age group 25 to 45 and the age group above 65.
India is young. I think our average age is just 28. So our entire plans are centred around attracting and retaining the young and dynamic population of India. Our adjustable cot (Wave) is a fantastic product for those above 65 who need a bit of help sitting up and getting out of bed.