Latest news with #SridharBalakrishnan
Fashion Value Chain
3 days ago
- Business
- Fashion Value Chain
Duroflex Turns 2M PET Bottles Into Eco-Friendly Mattresses
Duroflex, a leader in India's sleep solutions space, has repurposed over 2 million PET bottles into sustainable mattresses, reinforcing its commitment to environmental stewardship. Announced on World Environment Day, this achievement highlights how the brand is actively combating India's plastic waste crisis by integrating recycled materials into its product lines. The initiative is centered around the brand's Energise collection, where each mattress features performance fabric crafted from recycled PET bottles—transforming potential ocean pollutants into high-quality, durable bedding solutions. To visually emphasize this green milestone, Duroflex unveiled a striking sea turtle installation made entirely from PET bottles at its Indiranagar Experience Centre in Bengaluru. This symbolic installation raises awareness about marine pollution and demonstrates how discarded materials can be reimagined through design and purpose. Sridhar Balakrishnan, Group CEO of Duroflex, shared his perspective: 'Every year, over 500 billion PET bottles are consumed, with less than 10% being recycled. At Duroflex, we have adopted technology that transforms waste into a resource—developing high-performance mattress fabrics while contributing to environmental conservation.' Backed by fully backward-integrated production and India's largest foam manufacturing unit in Hosur, Duroflex leverages its manufacturing capabilities to scale such innovations. The Energise mattresses also incorporate features like the 3-zoned NRG Layer, QUBE Cell technology, and copper ion cooling—proving that eco-conscious design can go hand-in-hand with advanced comfort technologies.
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Business Standard
29-04-2025
- Business
- Business Standard
Duroflex to push ahead with IPO, eyes double-digit revenue growth
Indian mattress maker Duroflex is looking to go public in the next 18 months and is charting out plans to hit double-digit revenue growth in the next few years, its top boss told Reuters. The company, which competes with Sleepwell-owner Sheela Foam and Wakefit in the more than $2 billion mattress market, however, did not disclose how much it plans to raise or whether the listing would be a fresh issue or an offer for sale. "Markets are what the markets are. That's not something within our control ... Boringly consistent performance is generally what does the trick with the markets," Duroflex CEO Sridhar Balakrishnan said. Duroflex, founded about six decades ago in the south Indian state of Kerala, receives 85 per cent of its revenue from mattresses. It plans to double the contribution from other categories, including recliners and sofas, over five years. Global mattress sales have slowed since the height of the Covid-19 pandemic, when people splurged to upgrade their bedrooms, but analysts expect the focus on wellness to drive steady growth in the sector. For Duroflex, which owns the Sleepyhead brand, revenue would grow in the double-digit percentage range over the next three years, with profits rising faster, Balakrishnan said. The company posted sales of ₹1,001 crore ($117.53 million) and core earnings of ₹43,900 crore in fiscal 2024, data from business insights provider Tofler showed. In the latest financial year, Duroflex's revenue climbed in single-digit percentage range, Balakrishnan said, with core earnings jumping more than 50 per cent. The company also plans to open 20 to 25 stores to reach 100 locations by the year-end.
Reuters
29-04-2025
- Business
- Reuters
Indian mattress maker Duroflex to push ahead with IPO, eyes double-digit revenue growth
April 29 (Reuters) - Indian mattress maker Duroflex is looking to go public in the next 18 months and is charting out plans to hit double-digit revenue growth in the next few years, its top boss told Reuters. The company, which competes with Sleepwell-owner Sheela Foam ( opens new tab and Wakefit in the more than $2 billion mattress market, however, did not disclose how much it plans to raise or whether the listing would be a fresh issue or an offer for sale. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. "Markets are what the markets are. That's not something within our control ... Boringly consistent performance is generally what does the trick with the markets," Duroflex CEO Sridhar Balakrishnan said. Duroflex, founded about six decades ago in the south Indian state of Kerala, receives 85% of its revenue from mattresses. It plans to double the contribution from other categories, including recliners and sofas, over five years. Global mattress sales have slowed since the height of the COVID-19 pandemic, when people splurged to upgrade their bedrooms, but analysts expect the focus on wellness to drive steady growth in the sector. For Duroflex, which owns the Sleepyhead brand, revenue would grow in the double-digit percentage range over the next three years, with profits rising faster, Balakrishnan said. The company posted sales of 10.01 billion rupees ($117.53 million) and core earnings of 439 million rupees in fiscal 2024, data from business insights provider Tofler showed. In the latest financial year, Duroflex's revenue climbed in single-digit percentage range, Balakrishnan said, with core earnings jumping more than 50%. The company also plans to open 20 to 25 stores to reach 100 locations by the year-end. ($1 = 85.1700 Indian rupees)
Fashion Value Chain
24-04-2025
- Business
- Fashion Value Chain
Sleepyhead Opens 4 New Bangalore Stores in One Day
In a bold expansion move, Sleepyhead, known for its contemporary furniture and sleep solutions, has launched four new retail stores in a single day across Marathahalli, Dasarahalli, Airport Road, and New BEL Road. With these additions, the brand now operates seven stores in Bangalore, strengthening its omnichannel presence and solidifying its reach in India's tech capital. Following the success of its initial locations in Banaswadi, HSR Layout, and Koramangala, the brand is celebrating the expansion with a 'Bangalore Starter Kit' giveaway. The first 100 walk-ins (with job offer letters and ID cards) on Saturday, April 26 will receive a free mattress and pillow set, along with a quirky 'Bangalore Survival Map' featuring curated city recommendations. All seven stores will also offer a 50% discount on all products this weekend, inviting more customers to explore Sleepyhead's stylish range of mattresses, smart furniture, and home décor. Sridhar Balakrishnan, Group CEO of Duroflex, emphasized the strategic nature of the expansion: 'Our rapid growth in Bangalore reflects strong consumer demand for in-person retail experiences. Our omni-channel approach ensures design-forward, high-comfort products are accessible where our customers live and shop.' Sudhanshu Krishna, Chief Sales Officer, added: 'Bangalore's dynamic demographic—professionals, couples, and families—makes it a prime market for home and lifestyle products. Expanding here allows us to meet demand more closely and personally.' Sleepyhead's physical stores mirror the brand's youthful and quirky identity, creating vibrant spaces that encourage discovery, comfort, and playful design.
Fashion Network
24-04-2025
- Business
- Fashion Network
Sleepyhead expands retail footprint with four stores in Bangalore
Sleepyhead, a direct-to-consumer furniture and sleep solutions brand from Duroflex has expanded its retail footprint in the south Indian city of Bangalore with four new stores. The stores were opened in a single day at Marathahalli, Dasarahalli, Airport Road, and New BEL Road. With this expansion, Sleepyhead's total retail footprint in the city stands at seven stores which includes its stores in Banaswadi, HSR Layout, and Koramangala. Commenting on the expansion, Sridhar Balakrishnan, group CEO of Duroflex in a statement said, 'Our Bangalore expansion—growing from three to seven stores—is a direct response to the overwhelming success of our initial stores. Customers love engaging with our products in person before bringing them home and we are catering to their evolving needs through a stronger omni-channel approach.' 'With the new stores, we are thrilled to be reaching our consumers across more touchpoints where people can discover firsthand how great design makes everyday living better,' he added. Launched in 2017, Sleepyhead sells mattresses, beds, sofas, sofa beds, recliners and other bedding accessories. Its products are also available on major e-commerce platforms such as Flipkart, Amazon, Pepperfry among others.
