Rooted in the backwaters of Kerala, Duroflex started as a small unit in Alleppey in 1963. Today it is a fastest growing brands in the mattresses and sleep accessories category with over 55 years of expertise. The company has 5 manufacturing units located across India and a corporate head office in Bangalore. It’s stringent quality controls, adaptation of the latest technology and constant effort in research & development has enabled the brand to export its products to various international markets.
The company designs mattresses based on consumer needs and have perfected the art of manufacturing Hybrid Mattresses with Spring, Rubberized Coir and Foam. The company also manufacture accessories like pillows, bed sheets, mattress protectors and other soft furnishing products, using good quality raw materials and state-of-the-art machines. In an exclusive conversation, Mathew Chandy, Managing Director, Duroflex Pvt. Ltd shares more insignts on company operations.
Kindly shed light on Duroflex’s India journey so far. What are the key learnings acquired so far?
Last 2 years have been game changing for Duroflex. We have created massive product differentiation in the market by reorganising our product portfolio on the basis of “consumer benefits” as against the category approach of “construction”.
These efforts were coupled with increased focus on efficiencies across the board like creative communication strategy; go –to market strategy, supply chain, retail footprint, and consumer experience at the retail touch-point. Today we are a 500cr company with 30% CAGR growth in the category.
What is your assessment about mattress industry in India? According to you what are the factors propelling growth in this segment?
There is huge growth potential in this category. Branded penetration is still as low as 30% and that is the opportunity, also increased awareness amongst consumers on the critical link between a good mattress, sleep and health.
The lack of regulations when it comes to consumer benefit and quality claims is deterrent to brands that manufacture high quality, research backed products. A genuine product with certifications and consumer education on the same is going change the way this category is consumed.
Omni channels is the next big retail growth opportunity which will merge the convenience of online shopping online with the experience of retail shopping. Personalising comfort, customisation of size, exchange options, immersive shopping experiences are some of the other growth propellants.
What is the current distribution of Duroflex? Going forward, what are the plans to scale-up this distribution?
We have 3000 plus retail outlets across India (South, East and West markets).We sell largely through 3 retail formats: multi brand outlets, exclusive outlets and innovate experience centres in major metros. We are also present on e-commerce platforms and through our brand website. We are increasing the retail footprint primarily to exclusive outlets for better customer experience is the vision of the brand.
Who do you see as your competition?
Our products are designed to solve consumer problems and our categorisation is very different from our competition.
Today all brands in this category are competing for consumer mind space with respect to other health and wellness products. The true competition is lack of awareness.
How consumer behaviour is evolving in this category?
Thanks to the efforts of the branded segment consumers are more aware today about the importance of sleep and how a good quality mattress contributes to healthy sleep therefore healthy life.
Consumers are expecting more personalisation and customisation. Consumers are increasingly using online as a platform to research and using the brick and mortar stores as a place to experience the product.
What are the major challenges as far as mattress retailing is concerned?
Being a high value purchase offering an immersive shopping experience before buying can get challenging through traditional retail outlets which do not offer an environment for such an experience.
Mattress cots being a highly non branded segment in India, cots sizes are non-standardised. This poses many challenges to retail.
Tell us about your price point and product USP?
We are very competitively priced. Our entry prices are as low as Rs 7500 for a single mattress to about a Rs 75,000 for a luxury king size mattress.Kin
Kindly highlight your growth plans.
Our vision is to be the most admired comfort and sleep solutions brand in the country. We are working towards the milestone of 1000 Crs in the next two Financial Years