Kurl-on is planning to invest Rs 200 crore in innovation and new technology to double its product portfolio in the next two years.
Kurl-on, a mattress brand, is planning to invest Rs 200 crore in innovation and new technology to double its product portfolio in the next two years. Through this investment, the company also plans to consolidate the brand's growth in home furniture and furnishings segment.
Announcing the launch of 'STR8 Technology' for its mattresses, Kurl-on said that it will rapidly expand its retail presence across the country to 2,000 stores by 2020.
The expansion of the company will take place through both multi-brand and franchise outlets. It will also be done through its two exclusive brand outlets, 'Kurl-on Homes' and 'Home Komfort by Kurl-on'.
Kurl-on said, "The company aims to expand the Kurl-on Home stores from 430 at present to 1,000 in the next two years and Home Komfort to another 100 outlets. The retail expansion, together with the increase in product portfolio will enable Kurl-on to consolidate its growth and emergence as a serious and larger home furniture and furnishings brand."
T Sudhakar Pai, Kurl-on’s Chairman and MD, said, "Its sales in the previous year stood at Rs 1,050 crore and the company is targeting to grow at the rate of twice the industry growth."