Coimbatore-based Peps Industries Pvt. Ltd. is planning to open 100 'Sleep' stores across the country, with about 20 of them in Kerala.
Peps Industries has set a sales target of Rs. 1.2 billion this fiscal and it expects a major growth in the next fiscal.
Mr. K Madhavan, Managing Director of Peps Industries, said Peps has signed a 25-year deal for manufacturing and marketing of mattress for US-based Restonic Corporation.
The memorandum of understanding (MoU) with Restonic includes long-term technology transfer from Restonic to Peps, he added.
He said Peps manufactures inner spring mattresses, which fall under high-end mattress segment in India. These mattresses come with a 10-year warrantee period.
With manufacturing units at Coimbatore, Delhi and Pune, Peps makes around 10,000 mattresses a month.
Fibre2fashion News Desk - India
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