Spring Air To Enter Bedding Market In India

Furniture World News

The Spring Air Company said today that it would enter the $400 million retail bedding market in India through its Middle East licensee. W.J. Towell & Co., in association with Ashok Sharma, a well-known bedding professional and CEO of Spring Air Middle East, have created a joint venture called Spring Air India that will result in the company having three manufacturing facilities producing 500 pieces a day and 30 Spring Air branded retail showrooms in the country by 2010. The first plant will open in September 2008 just outside New Delhi. By end of 2009, Spring Air in India will also set up manufacturing facilities in the western part of the country near Bombay and also in the south near Bangalore. The retail showrooms will be going on line as manufacturing capability is added. The company said that at present, 7-percent of the retail bedding market in India is innerspring product and was expected to reach 25-percent over the next five years. While some international brands have entered the region, few have captured any significant share of this market. “This is very exciting news, both for our licensee and for our company as it gives us a great footprint in one of the fastest growing consumer markets in the world,” said Spring Air CEO Bob Hellyer. “W.J. Towell has been a great business with us and we look forward to sharing in the success of this new venture with them.” Spring Air Middle East is a fully owned venture by W.J. Towell & Co., a 135-year-old leading business enterprise from Oman with sales of more than $1 billion. Founded in 1926, The Spring Air Company is one of the world’s largest mattress manufacturing and distribution companies. Its well-known consumer brands include: Back Supporter Classic, Back Supporter Four Seasons, Nature’s Rest and Chattam & Wells.