The Sleep Company, (TSC) an Indian comfort-tech brand is looking forward to achieving profitability by the end of FY25. Reportedly, since its inception, the company has achieved Rs 500 crore ARR (annual recurring revenue). The company, which claimed to open its first store in Bengaluru in June 2022, has 100 COCO (company-owned, company-operated) stores.
Founded in 2019 by Priyanka and Harshil Salot, TSC is claimed to be the world’s first and only provider of SmartGRID technology. As per the report, the company’s operating revenue surpassed Rs 127.14 crore in FY23, witnessing a jump from Rs 74.05 lakh in FY20. The company is looking forward to reach the Rs 1000 crore revenue mark in the next two to three years. Currently, the company drives 85% of its sales from its omni-channel presence, including retail stores and online through its website. It is also mentioned that the company will strengthen its workforce, from current 1000 headcount to 1300-1400 employees by the end of 2024.
“Innovation remains at the core of our growth strategy and our patented SmartGRID technology gives us a competitive edge and makes us stand out in the industry. We are looking to enhance our position as a ‘house of brands’ and expand our product line. The integration of AI into our products will help us enhance customer experience. We are extremely grateful to our people, customers and investors for being a part of this growth journey and we remain committed to improving the lives of individuals with our sleep and sitting solutions,” Priyanka Salot, co-founder, The Sleep Company said.
“After analyzing consumer behavior, we have internally coined the ‘ROPO’ term, ‘research online, purchase offline’ wherein consumers research about our products online and then experience the product in the store and make a purchase. Our COCO stores make us stand out in the market as it helps us to provide superior experience to our customers. We are extremely excited to reach this milestone of having 100 stores in India,” Harshil Salot, co-founder, The Sleep Company said.
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