Mumbai: The Sleep Company aims for profitability by FY25 with a focus on brand building, including opening its 100th store in India and expanding its online presence. To support these goals, the company allocated INR 80-85 Cr for advertising and marketing in FY25, with a digital platform spending of 75-80% and traditional media at 20-25%.
In 4.5 years, the company achieved a significant milestone with INR 500 crore ARR. It became India’s fastest D2C brand to launch 100 COCO stores in two years and opened its first Bengaluru store in June 2022.
The Sleep Company aims to achieve INR 1000 crore revenue within the next 2-3 years through a robust growth strategy and nationwide expansion plans.
The Sleep Company, which has doubled sales annually since its start, saw a 2.3X increase in sales last year. It generates 85% of its sales through omni-channel sales, including physical stores and its website. The company dominates the office chair market in India with a 10X growth. With the new brand launch, ‘ErgoSmart by The Sleep Company,’ it aims to double its market share in the next two years.
The Sleep Company Co-founder Priyanka Salot said, “Innovative products, a strategic omnichannel presence, and a determined focus on customer satisfaction have fuelled our tremendous growth and expansion. Central to our success is our proprietary SmartGRID technology, which gives us a distinct advantage in the market. Our long-term objective is to become the undisputed leader in our field by continually introducing innovative products and expanding our offerings. We believe that integrating AI into our solutions will further enhance the customer experience. We are deeply grateful to everyone who has played a part in this journey and we are concerned about the interest of all our stakeholders. Our commitment to enhancing people’s lives with our top-notch sitting and sleep solutions is stronger than ever.”
Founded in 2019 by Priyanka and Harshil Salot, TSC is a pioneer in SmartGRID tech for sleep and sitting solutions, reshaping the D2C and omnichannel landscape in mattresses. Offering a range of products like mattresses, sofas, pillows, cushions, bedding, office chairs, and smart recliner beds, TSC is a rapidly growing brand transforming the industry.
Commenting on this achievement, Ripal Chopda, Chief Marketing Officer of The Sleep Company, said, “Reaching our 100th store signifies our team’s dedication and the trust our customers have placed in us. Through our COCO model, we control the in-store experience, and our sleep labs give them first-hand touch and feel of the technology behind our products, elevating the customer engagement. We are now gearing up for a new phase of growth, driven by strategic marketing initiatives predominantly towards brand building initiatives. Our focus will be on creating more personalized and engaging experiences for our customers, leveraging data-driven insights and innovative campaigns to elevate our brand.”
The Sleep Company’s marketing plan emphasizes digital marketing with tailored media mixes per market, encompassing TV, print, and social media. Leveraging collaborations with Bollywood and TV celebrities is a key aspect of TSC’s strategy to engage existing and potential consumers.
