Mattress brand Kurl-on plans to invest Rs 200 crore in innovation and new technology to double its product portfolio in the next two years and to consolidate the brand's growth in home furniture and furnishings segment.
Kurl-on, which announced the launch of 'STR8 Technology' for its mattresses Wednesday, said it will rapidly expand the retail presence across the country to 2,000 stores by 2020.
This will be done through both multi-brand and franchise outlets as well as its two exclusive brand outlets- 'Kurl-on Homes' and 'Home Komfort by Kurl-on'.
"The company aims to expand the Kurl-on Home stores from 430 at present to 1,000 in the next two years and Home Komfort to another 100 outlets," the company said in a statement.
The retail expansion, together with the increase in product portfolio will enable Kurl-on consolidate its growth and emergence as a serious and larger home furniture and furnishings brand, it added.
Kurl-on Chairman and MD T Sudhakar Pai said its sales in the previous year stood at Rs 1,050 crore and the company is targeting to grow at the rate of twice the industry growth.
Kurl-on said it has been expanding the product portfolio in the home furniture segment and offers 18 product categories and stock keeps units (SKUs).