~The company charts 32% Growth in the state; Plans to add many more dealers by March’24~
Hyderabad, December 21, 2023: Magniflex India (Made in Italy), renowned as Europe’s leading mattress brand with a prestigious 60-year heritage and Italian origins, has added the revolutionary ‘Ergo Tre Electric Bed’ to its diverse product lineup, reinforcing the brand’s dedication to delivering advanced sleep solutions. This luxurious and health-focused bed, operated by a remote control, incorporates ergonomic plates designed to provide personalized body support. This expansion is in line with Magniflex’s commitment to offering innovative solutions that cater to the evolving preferences in contemporary sleep accessories to all age groups.
The company is experiencing significant growth in the vibrant state of Telangana, particularly in Hyderabad. Notably, the company has achieved an impressive 32% growth in the region and is strategically planning to augment its presence by adding many more dealers by March 2024.
Lancet study suggests that India has approximately 87.5 million cases of low back pain, often attributed to poor postures such as slouching in chairs, lying on the belly with a laptop, and sitting on beds. To address these issues, Magniflex has launched the Ergo Tre Electric Bed, designed to alleviate back pain and improve sleep posture. Mr. Anand Nichani, Managing Director of Magniflex India, said, ‘Our newly launched Ergo Tre Electric Bed is crafted with a robust adjustable base made of silver beechwood and complemented by ergonomically shaped plates. Users can adjust the head and feet positions, alleviating spine pressure and addressing concerns such as back pain, snoring, acid reflux, sleep apnea, varicose veins, and swollen feet.'”
“In response to the growing number of ultra-high-net-worth individuals in Hyderabad, Magniflex India is responding to the escalating demand for good-quality mattresses by expanding its dealership presence within the state. We are also looking at opening exclusive stores in prime locations like Banjara Hills and Jubilee Hills, where the demand for luxury mattresses is particularly high,” added Mr. Anand.
Hyderabad, currently witnessing a surge in high-net-worth individuals contributing to the luxury realty market’s growth, serves as a strategic market for Magniflex. In the first quarter of 2023, luxury units accounted for 25% of all sales, reflecting an upward trend from the previous year. This underscores the city’s burgeoning affluence and aligns with the company’s strategic efforts to cater to the discerning preferences of Hyderabad’s luxury-seeking clientele. The upscale mattress industry, represented by Magniflex India, has experienced remarkable annual year-over-year growth of 40%, with annual revenue exceeding ₹21 Crores.
To cater to the growing demand for these mattresses in the state and to promote the importance of investing in a quality mattress for better health, Magniflex India has introduced the Magniflex Investment Plan (MIP) that provides EMI schemes across all its products, starting as low as Rs 3535 per month.
Countrywide, Magniflex operates through six franchises, with four in Bengaluru, one in Ahmedabad & one in Gurgaon, and a network of approximately 89 dealers.