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Business EconomyPosted at: Oct 26 2020 1:08PM


Wakefit.co launches factory operations in Telangana district, to help its Revenue target of Rs 450 cr

Hyderabad, Oct 26 (UNI) Wakefit.co, a research and innovation-driven sleep and home solutions company on Monday announced the launch of its factory operations in Medchal-Malkajgiiri district, on the outskirts of the city to strengthen its manufacturing capabilities and catering to consumer demand in the Hyderabad market.
As part of its aggressive growth plans, Wakefit.co has set-up a new facility to cater to the growing demand of consumers in and around the Telangana region, the company said in a release here.
Hyderabad is among the top five focus cities for Wakefit.co and has witnessed a significant rise in demand for quality sleep and home solutions products in the last few months.
The new facility would help the Company to achieve its target revenue goal of INR 450 crore by the end of Fiscal 2021, the company claimed.
Spread across a sprawling area of 30 lakh sq. ft, the facility will have world-class products designed scientifically by experts keeping in mind the customers’ behavior and demand patterns.
The product portfolio in its sleep solutions range includes mattresses, beds, mattress protectors, pillows, comforters, bedsheets, neck pillows and back cushions, while its home solutions range consists of study tables, book shelves, bedside tables, coffee tables, TV units, sofas, shoe racks, wardrobes, dining tables and much more.
Speaking on the occasion, Wakefit.co CEO and Co-Founder Ankit Garg, said, “Hyderabad is among the top focus markets for us.
Ever since we have set up our infrastructure presence in the city, our order volume has increased 15 percent thereby significantly reducing the delivery time in and around Hyderabad. We have recently expanded from sleep to home-solutions segments, he added.
The Company is planning to further strengthen its manufacturing capabilities, in-house R&D and Direct-to-consumer DNA across the country and will be setting up additional factories in Pune, Delhi and Bengaluru, besides Hyderabad, Mr Garg informed.
The Company owns the supply chain and back-end operations end-to-end, which helps them keep the prices affordable for customers. Conceived as an online sleep solutions company in 2016, the brand has now entered the home solutions segment over the last 18 months, he added.
Currently, the company manufactures its products in-house at factories in Bengaluru, Jodhpur and Delhi.
With over 5 lakh customers serviced over four years, it sells across the country through its own online portal and through other online marketplaces.
UNI KNR CS 1307
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