This premium mattress brand aims to replicate offline success in digital world
Family-owned Foam Home has successfully run its business for more than four decades as a premium mattress brand largely due to word of mouth. It now wants to replicate this model in the digital segment
Foam Home, founded in 1977 by the Bhanpurawala family, has carved a distinct identity in the Indian mattress industry. And, it has achieved this feat largely due to word-of-mouth publicity.
“We have always sold to a segment who understands that sleep is an investment,” says Sabina Bhanpurawala, CEO, Foam Home in a conversation with SMB Story. Sabina belongs to the second generation of the family.
In its early days, Foam Home refurbished mattresses. It has since evolved to build its brand and currently sells mattresses and pillows both in India and overseas markets. The company has a manufacturing facility and only one retail store in Mumbai.
Foam Home is now looking at a digital play to accelerate its growth.
Bhanpurawala is hopeful that its success in the offline space can lead to growth in the online market. “There is tremendous space for giving them (online users) authentically created good quality products,” she remarks.
Foam Home, while not disclosing its revenue numbers, said it has grown over 3X in the last six years.
Retail focus
Bhanpurawala says focuses on the retail segment and has a close relationship with architects and interior designers to sell its products.
“For us the clientele is a matter of prestige,” says Bhanpurawala, adding that right from the beginning Foam Home has always produced high-quality mattresses that come at a premium pricing.
The price of Foam Home’s mattress ranges from Rs 30,000 to Rs 3,00,000.
Bhanpurawala says Foam Home, which has 20 patents to its name, has had the first mover advantage. Its focus on technology has kept it ahead of the competition as it understands the Indian market. According to the CEO, the local market demands a higher degree of customisation, unlike other developed countries, where the focus is on standardisation.
“Customisation in India is a necessity and not a luxury. Clientele expects you to give them these options and one cannot falter,” says Bhanpurawala. “We have grown and stayed on our track to ensure this is consistently delivered.”
Industry outlook
The Indian mattress market generated a revenue of $239.30 million in 2023, according to Statista and is expected to record a compounded annual growth rate of 8.18% between 2024 and 2028.
This market consists of both unorganised and organised players with the presence of leading names such as , , , , and .
Today, the mattress market in India is rapidly changing due to numerous factors, which include rising income levels, increased urbanisation, a rising number of players coming into this segment, and specialised requirements like orthopedic beds.
“The fact that so many players from abroad are now wanting to come to India is because they see a tremendous potential,” says Bhanpurawala.
In fact, during the pandemic period of Covid-19, there was much more awareness created about the need for a good mattress and this was largely due to the marketing initiatives of the new-age digital companies. It is in this digital arena that Foam Home wants to create its niche.
“There is so much awareness now in this industry. I think an industry that was sleeping all along, has now suddenly awakened. Thanks to the digital era this has happened,” says Ms Bhanpurawala.
She says this is primarily due to the educational efforts of these digital companies in telling consumers how one’s sleep is extremely important.
This has led to numerous brands available online in a highly competitive market and the Foam Home CEO believes they are largely catering to the mass segment by offering price competitive products.
Digital plans
While Foam Home embarks on a digital journey, the CEO is clear that the company will not resort to any discounts or marketing gimmicks and will focus on communicating with its users about the benefits of a good mattress.
The digital foray poses new challenges for the company as it will have to maintain the same standards just like offline, especially in terms of service quality, understanding the requirements of the customers. It will also have to deal with logistical issues, given that mattresses are bulky products.
“Our focus will be to tap into those online customers who are willing to spend and invest in sleep while buying a mattress,” says Bhanpurawala.
(The story has been updated to change the price of the mattress)
Edited by Affirunisa Kankudti