Spring Air plans to invest Rs 500 crore for two new plants in India

KOLKATA: Spring Air, the US-based manufacturer of premium mattresses and pillows, plans to invest Rs 500 crore to set up two manufacturing plants in Mumbai and Kolkata by next year. The company currently has two plants in India at Bangalore and Noida.

The company has also launched a new collection in India. ""Spring Air new collections will offer comfort and support, since all products have been developed through extensive research and deep understanding of what Indian consumers want most in a mattress,"" says Ashok Sharma, CEO, Spring Air Middle-East & Indian sub-continent.

The size of the Indian market is estimated to be around Rs 3,000 crore.

Spring Air is also looking at bombarding the Indian market with advertising campaigns and has also partnered with an IPL cricket team. However, the company refused to divulge further details.

The latest investment in India is aimed at becoming the market leader in the Indian market. It is eyeing a revenue of more than Rs 300 crore in the next three years. Spring Air entered India in 2009.