The Sleep Company plans Rs 80-85 Cr ad spend for FY25
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The Sleep Company (TSC) is eyeing to achieve profitability by the end of FY25. The company has set its advertising and marketing budget to be Rs 80-85 Cr for FY25.
“While 75-80% expenditure will be on digital platforms, traditional media spending will be around 20-25%,” the company shared in a press release.
“The company has embarked on its brand-building journey for the last 12 months, with nearly one-third of its expenditure now allocated to brand building. Having launched its 100th store in India, the company is further looking to solidify its market position by enhancing its omnichannel presence. The company has touched a significant milestone of achieving INR 500 crore ARR (Annual Recurring Revenue). It is India’s fastest D2C brand to open 100 COCO (Company-owned, Company-operated) stores in just two years since venturing into offline retail. The company opened its first store in Bengaluru in June 2022. The Sleep Company is well-positioned to reach the INR 1000 crore revenue mark in the next 2-3 years,” the release stated.
The Sleep Company Co-founder Priyanka Salot said, “Innovative products, a strategic omnichannel presence, and a determined focus on customer satisfaction have fuelled our tremendous growth and expansion. Central to our success is our proprietary SmartGRID technology, which gives us a distinct advantage in the market. Our long-term objective is to become the undisputed leader in our field by continually introducing innovative products and expanding our offerings. We believe that integrating AI into our solutions will further enhance the customer experience. We are deeply grateful to everyone who has played a part in this journey and we are concerned about the interest of all our stakeholders. Our commitment to enhancing people's lives with our top-notch sitting and sleep solutions is stronger than ever.”
Ripal Chopda, Chief Marketing Officer of The Sleep Company, said, "Reaching our 100th store signifies our team's dedication and the trust our customers have placed in us. Through our COCO model, we control the in-store experience, and our sleep labs give them first-hand touch and feel of the technology behind our products, elevating the customer engagement. We are now gearing up for a new phase of growth, driven by strategic marketing initiatives predominantly towards brand building initiatives. Our focus will be on creating more personalized and engaging experiences for our customers, leveraging data-driven insights and innovative campaigns to elevate our brand.”
The Sleep Company’s marketing blueprint includes a significant push in digital marketing, driven by a tailored media mix model for each market. These media channels will include platforms such as TV in regional markets, print media, and social media. As part of TSC’s marketing strategy, the company has been leveraging its collaborations with prominent Bollywood and TV celebrities to engage with its existing and potential consumers, according to the release.