What began as a “sleep solution” start up in 2016, is now one of India’s fastest growing lifestyle brands. The Sleep Company is just short of 100 offline stores and is expected to reach the century mark in the next 2-3 months.
The company, which raised INR 184 Cr (USD 22 Mn) in Dec. ‘23 led by Fireside Ventures and Premji Invest currently operates over 95 stores, with their 18th store coming up recently in Bangalore.
The company also opened its 11th store in Hyderabad, 9th store in Mumbai, 4th in Kolkata, 3rd in Gurugram and the second store in Indore.
The company offers various products for sleep and comfort such as TSC mattresses, ErgoSmart chairs, Smart Recliner Beds, Recliner Sofas and accessories like pillows & cushions.
The company, founded by couple Priyanka and Harshil Salot had earlier raised INR INR 177 Cr (USD 21.3 Mn) in Nov. ‘22. This round of funding was led by Premji Invest.
What started as an online D2C brand has now morphed into an omnichannel case study.
The Sleep Company reported a 98% jump in annual revenues of INR 127 Cr for FY 22-23, with a loss of INR 37 Cr., a four-fold increase over the previous fiscal.
Wakefit, Slepycat are among the key branded competitors for The Sleep Company while there are literally thousands of furniture shops across the country who offer similar products, though not as scientific as offered by the above players.