Home Solutions Provider “Wakefit” Eyes INR 450 Crore Revenue In FY21
With more and more people getting used to working from home, the investment in home furniture has also seen a rise. Home solution companies like “Wakefit” are seeing strong growth in their business during a pandemic-hit year, as people spending more time indoors and becoming comfortable with online shopping. The company expects to log INR 450 crore in revenue in the financial year 2021. The company is backed by major players like and Sequoia Capital and Verlinvest, which has helped ramp up its manufacturing capacities. It has 7 large factories, with another one coming up in the Delhi-NCR region.
The company, which has started as early as March 2016, has massively scaled up its manufacturing operations and increased the headcount to 2400 employees. Wakefit has trained over 600 customer executives, over 30 machine operators, and 100 or so carpenters in technical knowledge, soft skills, and basic computer knowledge depending on their role, with the intention to scale up these efforts. At a monthly level, the company gets 70% of its revenue from mattress sales, and 10% from other products like furniture, a domain that is relatively new for Wakefit.
