7, Jan 2024
Andhra Pradesh to play a significant role in Magniflex India’s Expansion Plan
Vijayawada, January 07, 2024: Magniflex India (Made in Italy), Europe’s leading mattress brand, with a rich heritage spanning 62 years and Italian roots, anticipates substantial growth in the dynamic state of Andhra Pradesh. Historically recognized for its affluence, the state has witnessed luxury brands establishing their experience centers in Vijayawada. There is a rise in demand for quality sleep-related products post-COVID-19. This trend has led to elevated investments in luxury mattresses and a commitment to a holistic lifestyle. Notably, the upscale mattress industry, exemplified by Italian brand Magniflex India, has seen a remarkable 40% year-on-year (YoY) growth with annual revenue exceeding ₹21 Crore. To bolster its presence, Magniflex India has now introduced the Ergo Tre Electric Bed and rolled out the Magniflex Investment Plan (MIP) for customers nationwide.
Commenting on Vijayawada’s market growth, Mr. Anand Nichani, Managing Director of Magniflex India said, “The luxury market in Vijayawada is exceptionally buoyant, with a noticeable shift in consumer preference toward high-quality and premium products with health benefits. This shift is driven by the increasing purchasing power of the people. In Andhra Pradesh, we achieved 28% growth in 2023, and we expect this to expand by over 30% in 2024-25. Our market expansion strategy targets emerging areas like Rajahmundry, Nellore, and Tirupati by March 2024, followed by potential areas like Vizag, Vijayawada, and Nellore. Recognizing the growing interest in premium mattresses among the younger generation, we are expanding our presence in the state.”
In the current consumer landscape, health is a priority in purchasing decisions. With this in mind, Magniflex India launched the Ergo Tre Electric Bed, a luxurious and functional product controlled by a handheld remote, and featuring ergonomic plates for tailored body support. This allows users to elevate their heads and feet, which in turn helps reduce the pressure on the spine. It also addresses issues such as back pain, snoring, acid reflux, sleep apnea, varicose veins, and swollen feet.
To meet the growing demand for quality mattresses in the state, Magniflex India has introduced the Magniflex Investment Plan (MIP), offering Equated Monthly Instalment (EMI) schemes starting at ₹3,535 per month across all its products, emphasizing the importance of investing in a quality mattress and enjoy better health.
Today, Magniflex India has a network of six franchises — four in Bengaluru, one in Ahmedabad, and another in Gurugram — and an extensive dealership network through around 89 stores across India.
Magniflex is committed to driving growth, fostering innovation, and ensuring customer satisfaction in South India’s dynamic landscape. The people of Andhra Pradesh, historically inclined towards opulent living, are exhibiting a growing interest in financial investments for comfort and luxury.
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- By Rabindra
23, Dec 2023
Magniflex India launches Ergo Tre Electric Bed in Hyderabad
~The company charts 32% Growth in the state; Plans to add many more dealers by March’24~
Hyderabad, December 23, 2023: Magniflex India (Made in Italy), renowned as Europe’s leading mattress brand with a prestigious 60-year heritage and Italian origins, has added the revolutionary ‘Ergo Tre Electric Bed’ to its diverse product lineup, reinforcing the brand’s dedication to delivering advanced sleep solutions. This luxurious and health-focused bed, operated by a remote control, incorporates ergonomic plates designed to provide personalized body support. This expansion is in line with Magniflex’s commitment to offering innovative solutions that cater to the evolving preferences in contemporary sleep accessories to all age groups.
The company is experiencing significant growth in the vibrant state of Telangana, particularly in Hyderabad. Notably, the company has achieved an impressive 32% growth in the region and is strategically planning to augment its presence by adding many more dealers by March 2024.
Lancet study suggests that India has approximately 87.5 million cases of low back pain, often attributed to poor postures such as slouching in chairs, lying on the belly with a laptop, and sitting on beds. To address these issues, Magniflex has launched the Ergo Tre Electric Bed, designed to alleviate back pain and improve sleep posture. Mr. Anand Nichani, Managing Director of Magniflex India, said, ‘Our newly launched Ergo Tre Electric Bed is crafted with a robust adjustable base made of silver beechwood and complemented by ergonomically shaped plates. Users can adjust the head and feet positions, alleviating spine pressure and addressing concerns such as back pain, snoring, acid reflux, sleep apnea, varicose veins, and swollen feet.'”
“In response to the growing number of ultra-high-net-worth individuals in Hyderabad, Magniflex India is responding to the escalating demand for good-quality mattresses by expanding its dealership presence within the state. We are also looking at opening exclusive stores in prime locations like Banjara Hills and Jubilee Hills, where the demand for luxury mattresses is particularly high,” added Mr. Anand.
Hyderabad, currently witnessing a surge in high-net-worth individuals contributing to the luxury realty market’s growth, serves as a strategic market for Magniflex. In the first quarter of 2023, luxury units accounted for 25% of all sales, reflecting an upward trend from the previous year. This underscores the city’s burgeoning affluence and aligns with the company’s strategic efforts to cater to the discerning preferences of Hyderabad’s luxury-seeking clientele. The upscale mattress industry, represented by Magniflex India, has experienced remarkable annual year-over-year growth of 40%, with annual revenue exceeding ₹21 Crores.
To cater to the growing demand for these mattresses in the state and to promote the importance of investing in a quality mattress for better health, Magniflex India has introduced the Magniflex Investment Plan (MIP) that provides EMI schemes across all its products, starting as low as Rs 3535 per month.
Countrywide, Magniflex operates through six franchises, with four in Bengaluru, one in Ahmedabad & one in Gurgaon, and a network of approximately 89 dealers.
