New Delhi [India], March 18 : Slumberzone, a New Zealand-based mattress manufacturer, has expanded its business into the Indian market on a day Prime Minister Christopher Luxon is in New Delhi.
As part of its entry into India's USD 2.5 billion mattress market, Slumberzone announced on Tuesday it will establish its first manufacturing unit in Hyderabad, Telangana, with an investment of Rs 100 crore.
The company aims to provide premium sleep solutions and leveraging India's robust manufacturing capabilities to serve both domestic and international markets.
Slumberzone Founder and Director, was in India as part of a high-level business delegation led by New Zealand Prime Minister, Christopher Luxon.
The announcement was made during a special ceremony marking New Zealand's growing commercial partnerships in India.
Prime Minister Christopher Luxon said, "It is great to see ambitious New Zealand manufacturing companies, like Slumberzone, choosing India to scale up their operations. 'Made for India, made in India' enhances collaboration, broadens our trade relationship, and contributes to the growth of both our economies."
Slumberzone in a statement said it seeks to compete with China's dominance in the mattress industry.
Slumberzone statement added that it aims to establish India's largest and most advanced mattress manufacturing facility with a highly automated production ecosystem, and plans to expand into foam manufacturing and enhance export capabilities.
In phase one, Slumberzone will set up exclusive outlets in top Indian metropolitanandtier-1 cities, develop a robust franchise network, and strengthen its online presence.
Phase two will focus on entering international markets, including North America, Australia, Europe, and the Middle East.
Ranjay Sikka, Managing Director of Slumberzone NZ: "We are bringing an international product experience to Indian consumers, which will redefine the sleep market in India and create an international presence for the Slumberzone brand."
Vidhul Sikka, Chief Business Officer and Director of Slumberzone India: "With Slumberzone, our aim is to challenge China's dominance in the mattress industry by offering superior quality products and strengthening India's position as a global export hub."