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<ul><li>Wakefit.co, a Bengaluru-based startup was founded by <keyword id="650855" type="PERSON" weightage="20" keywordseo="Ankit-Garg">Ankit Garg</keyword> and <keyword id="1639108" type="PERSON" weightage="20" keywordseo="Chaitanya-Ramalingegowda">Chaitanya Ramalingegowda</keyword> in 2016.</li><li>In 4 years, the startup is now diversifying from its primary offering of <keyword id="9658763" type="UNKNOWN" weightage="20" keywordseo="sleep-wellness">sleep wellness</keyword> products to <keyword id="306280" type="COMPANY" weightage="20" keywordseo="Home-Solutions">home solutions</keyword>.</li><li>The startup has announced ambitious expansion plans and is also targeting Rs 450 crore revenue in FY2021. Garg and Ramalingegowda walk us through their strategy to achieve it.</li></ul> In a year when most organizations are being frugal, cutting costs and even slashing jobs, Wakefit.co recently announced that its expansion plan. It is going to invest Rs 15 crore towards setting up new facilities, expanding product lines and strengthening technological capabilities. It also aims to target Rs 450 crore in revenue for FY 2021. Moreover, the company also plans to hire close to 200 people in the next couple of months. The year 2020 has been difficult for organizations across the world. However, it is companies that have been able to adapt, stay agile and listen to its consumers and work on its offerings accordingly that have been able to weather the storm effectively. So how has Wakefit, a 4-year-old startup been able to not only grow in these adverse times without cutting any jobs but is now also looking at hiring and investing on expansion? Ankit Garg, CEO and Co-founder, Wakefit.co said, “We recently announced an investment of Rs 15 crore towards setting up of new facilities, expanding product lines and strengthening our focus on research and innovation. We believe that investing in Capex to improve quality, reduce manufacturing costs and thereby pass on the benefit to customers is the ideal way to grow a business, and we will continue to adopt that strategy while fuelling the next level of growth. As a company, our top priority will continue to be the enhancement of customer experience and satisfaction.” “As a fundamentally strong company that works on sound business values, we have always prioritized a solid balance sheet and employee welfare,” added Chaitanya Ramalingegowda, Director and Co-founder, Wakefit.co. “By virtue of these ethos, we have been able to pay full salaries to employees and avoid any layoffs during this time. In fact, being in the home solutions space, we have seen growing demand for our products, which strengthened our resolve to invest in Capex to bolster our back-end capabilities. While we have remained very frugal in marketing efforts and for potentially wasteful expenditure, we have not held back in terms of investments that will benefit the company and our hundreds of employees in the long term,” he shared. What started as an online mattress and sleep solutions startup is now diversifying its offerings too. It is now also looking at entering the home solutions space. However, that is one space that already has a few well-established players, both online and offline. So how is Wakefit.co trying to create differentiation in the segment? “With our foray into the home solutions space, we are now invested in the science and innovation of home wellness. Based on scientific research in home ergonomics, we have designed new products such as study tables, book shelves, bedside tables, coffee tables, TV units, sofas, shoe racks, and dining tables that offer superior value to customers at an affordable price. Given that we are a full stack company and own the manufacturing and back-end operations end-to-end, it is conducive to keep innovating on the products and keep the prices reasonable, yet be profitable,” explained Ramalingegowda. “Our direct-to-consumer DNA, powered by strong manufacturing capabilities, is definitely a big advantage. Currently, we have six world-class manufacturing facilities – spread across Bengaluru, Jodhpur and Delhi – to cater to the growing consumer demand,” he added. The lockdown experience The first two months when operations came to a sudden halt, there was a lot of uncertainty and confusions about the future. Supply chain had been completely disrupted. However, that halt also led to a lot of pent up demand. Moreover, with people staying more at home, they started paying more attention to wellness and sleep. “As the lockdown eased, we registered an increase in customer queries about our products. There has been a perceptible shift in customer preferences, possibly, due to prolonged stay at home as well as crucial conversations about health and well-being,” shared Garg. As working from home became the norm, Wakefit.com also witnessed an upsurge in the demand for better home solutions. “We understand that customers are creating their own efficient and ergonomic work spaces within their homes, while also filling the gaps in their home furniture needs now that they are spending more hours indoors. This has contributed to steady growth in demand over the last two months. We surpassed pre-Covid demand in June and are on track to do the same in July as well,” he added. Wakefit.co’s marketing plans for FY2021 Wakefit.co has had an interesting marketing journey so far. Last year, a campaign it did, inviting entries for its sleep internship went viral, for all the right reasons. It was a smart campaign, and appealed to a huge consumer base that was intrigued at the prospect of getting paid to sleep. More recently, another campaign the startup did featuring actors Sumit Vyas and Rasika Dugal was also widely shared, for voicing what a lot ofus had been experiencing during the first few weeks of the lockdown. So what comes next in their marketing journey? “Our goal is to build brand awareness and the best way to do it, in our opinion, is to take the stance of educating customers and to focus on innovative ideas and content that will resonate with our target audience. For instance, intelligent campaigns – such as our sleep internship campaign or the open letter campaign which went live during the lockdown period – give us opportunities to engage with our customers in meaningful ways,” said Ramalingegowda. Recently, the brand also launched the ‘Wakefit Rewards’ initiative to provide value-added benefits to its customers. It also partnered with brands like Gaana, Cleartrip, Bombay Shaving Company, Ajio, 1MG and Parentlane among others to offer value-added offers on the purchase of Wakefit.co products. The collaboration was purely on goodwill, without any commercial considerations. This allowed the partner brands to attract traffic from Wakefit.co’s users without incurring any marketing costs while Wakefit.co’s customers derived value too. On what kind of marketing budgets they are looking at allocating this year, Ramalingegowda said, “Our marketing budget allocations have always been made keeping consumer sentiment and situational awareness in mind. We do not believe in spending large marketing budgets for the sake of it or because other brands are doing it. We always think about the benefit it will add to the customer’s life and then create initiatives accordingly.” Going deeper into Bharat While the brand is expanding its offering by diversifying, its next phase of growth will also come from going deeper into the country. Already close to 30% of its demand comes from Tier II and Tier III markets. “When it comes to going deeper into the country, strategic collaborations will be the key. We work with multiple logistic partners, who have unique strengths in diverse geographies, to ensure that Wakefit.co has a robust distribution and delivery system in every corner of India. We have capabilities to deliver across 19,000+ pincodes in the country and around 30% of our demand comes from Tier 2 and 3 markets. As we grow steadily, we aim to target Tier 2 and 3 cities aggressively and target 50% demand from these markets,” shared Garg. Wakefit.co of the future Both Garg and Ramalingegowda are confident that the startup is on the right path. It will continue to keep the consumer at the heart of everything that it does. On what he thinks the Wakefit.co of the future will look like, Garg said, “The vision is to strengthen the brand and ramp up production capabilities as well as distribution network across Indian markets. Our focus is on providing cutting-edge home solutions to Indian consumers at a highly affordable price point. The idea is to create a pioneering company powered by constant innovation based on consumer data and feedback. At Wakefit.co, we are working towards inspiring healthy conversations that create greater awareness about the importance of sleep and home wellness.”

Wakefit.co is targeting Rs 450 crore revenue in FY2021. The founders tell us how they plan to reach there

<ul><li><keyword id="7239876" type="General" weightage="80" keywordseo="wakefit-co" source="Orion">Wakefit.co</keyword> has come up with another relatable campaign, this time talking about the many perks of working from home.</li><li>It features Sumit Vyas ranting about <keyword id="1609796" type="General" weightage="20" keywordseo="omicron" source="Orion">Omicron</keyword> and going back to office. He calls for a movement to support work from home for life, something many of us might agree with.</li></ul>To voice the sentiments of frustrated people from across the country, Wakefit.co, D2C home and sleep solutions company, has come up with another rant video a lot of us will relate to called The Honest Office-goer's Rant. From uncertainty about going back to work to worrying about a new variant of COVID-19 that might wreak havoc, 2021 has been challenging for each and every Indian. The new campaign video features <keyword id="1320517" type="General" weightage="20" keywordseo="sumeet-vyas" source="Orion">Sumeet Vyas</keyword> as the protagonist, and encapsulates the emotional turbulence people have been going through in the past year, in a light hearted manner. <div type="javascript" title="Instagram" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Work from home has been the most prominent outcome worldwide for office goers amid a coronavirus-ridden world. As several months passed and people transformed their homes into office-like environments, the relationship and the bond with homes and home furnishings have increased. The Honest Office-goer's Rant (which is a successor to the viral Bartan Dho Liye video that was introduced as part of the Open Letters campaign by Wakefit.co), highlights how the new normal and WFH has fostered a close relationship between people and their homes. Talking about the video <keyword id="12806533" type="General" weightage="20" keywordseo="prateek-malpani" source="Orion">Prateek Malpani</keyword>, Head of Brand, Wakefit.co said, “In the last two years, people have reoriented their way of living between the four walls of their homes. While doing so, many people have naturally channeled their energies into livening up their surroundings, leading to an increasing interest in the home furniture segment.” He further added, “Wakefit.co’s campaigns are targeted at sparking the interest of every family in the country. Through quirky and witty initiatives like these, we try and echo each other’s sentiments, while also addressing the importance of investing in their homes.” <keyword id="7679787" type="General" weightage="20" keywordseo="sandeep-balan" source="Orion">Sandeep Balan</keyword>, Partner - Branded Content at <keyword id="7223115" type="General" weightage="20" keywordseo="spring-marketing-capital" source="Orion">Spring Marketing Capital</keyword>, who was an instrumental part of creating this campaign, said, "The campaigns we collaborate with Wakefit.co on always have a dash of wit and humor, to go with the core brand messages. The Honest Office-goer's rant is another out-of-the-box attempt to showcase the pulse of the average Indian citizen and build brand resonance." In 2020, when the first wave of <keyword id="8764728" type="General" weightage="20" keywordseo="covid-19" source="Orion">COVID 19</keyword> broke out, Wakefit.co launched the Open Letters Campaign which aimed to evoke a sense of empathy and assure people that we are in this together, as a community and will come out of it stronger, if we stand together. The series of videos was hosted on Wakefit.co's branded content channel, Home Time. The Home Time channel on YouTube attempts to publish topical content that is set in humorous and relatable storylines.

Sumit Vyas is back with another rant for Wakefit.co, calls for work-from-home for life!

<ul><li>As demand for home and sleep solutions surges, the company witnesses a surge in website traffic of 84% and 139% in Tier I and Tier II cities respectively as compared to last year. </li><li>Due to COVID-19 and its impact on people’s lifestyles and residential arrangements, this year saw a marked increase in demand from deeper pockets of the country.</li></ul><keyword id="7239876" type="PERSON" weightage="20" keywordseo="WAKEFIT-CO">Wakefit.co</keyword> has announced a record year with respect to traffic and revenues during the 2020 festive season. Wakefit.co’s flagship festive sale, The Dream Home Sale, resulted in a 104% increase in website traffic as compared to last year’s festive Sale and recorded a phenomenal increase in revenues which rose 223% from about INR 17 Crores last year to more than INR 57 crores this year. The yearly festive sale ran from October 1st to October 31st in 2019 and this year in 2020, it spanned from October 15th to November 15th, based on when Diwali falls. The Dream Home Sale offered discounts of close to 35% on all products along with allied bank partnership discounts and Wakefit Rewards. Anticipating the demand during the festive season, Wakefit.co had ramped up the production of certain products such as mattresses and comforters by 33%, beds by 100%, pillows by 200% and sofas by 75% well in advance to address the needs of the Indian consumers. This year’s festive season threw light on important behavioral trends, as consumers took to buying ergonomic products on the Wakefit.co platform, such as memory foam mattresses, adjustable pillows, hygienic mattress protectors and comforters, ergonomic work desks, chairs and sofas, which consisted of the top performing product lines for the company. Due to tectonic shifts in people’s lifestyles and residential arrangements due to Covid-19, this year saw a marked increase in demand from deeper pockets of the country. <keyword id="1639108" type="PERSON" weightage="20" keywordseo="Chaitanya-Ramalingegowda">Chaitanya Ramalingegowda</keyword>, Director and Co-Founder of Wakefit.co said, “The Dream Home Sale received great feedback from customers and was especially successful in Tier 2 and 3 markets, which contributed to a significant share of traffic this year, with about 43% of people visiting our website from beyond the metros. This was a steady improvement from last year’s share, wherein 37% of our traffic constituted of Tier II and III markets." <keyword id="650855" type="PERSON" weightage="20" keywordseo="Ankit-Garg">Ankit Garg</keyword>, CEO and Co-founder, Wakefit.co, said, "Currently, almost 30% of our revenue throughout the year is generated from Tier 2 and 3 cities. As we grow, we are committed to making Wakefit.co a household name and hence, we plan to double down our focus on these cities. We aim to drive as much as 50% of demand from these cities in the next few years.” In a reversal of fortunes for the online furniture segment from last year, the pandemic has compelled Indians to invest in scientifically designed home furniture, as consumers use their homes as multi-functional spaces. The online furniture market, although only 3% of the organized furniture segment at the moment, is set to grow at a CAGR of 80-85% over the next few years. Industry trends such as marketplace growth in online home segment categories as well as significant investments in popular furniture players point to a rising appetite for the sector, both among consumers as well as investors. Wakefit.co, which is targeting INR 450 crores in FY 2020, also ventured into furniture this year and has received significant upsurge in demand for its sleep and home segments.

Wakefit.co clocks 223% increase in revenues over last year during the Festive Sale; records 43% traffic from Tier-II cities

<ul><li>Bengaluru-headquartered Wakefit.co on Tuesday said it aims to hire 200 people in the next couple of months to fuel growth, as it looks to replicate its success in the home solutions space.</li><li>Wakefit.co said it it is ramping up production capabilities as well as distribution network across Indian markets with the unveiling of a manufacturing facility in Jodhpur and Delhi.</li><li>The company has announced an investment of ₹15 crore towards setting up of new facilities, expanding product lines and strengthening technological capabilities -- with an aim to target Rs 450 crore in revenue for the FY 2021. </li></ul> After creating a strong foothold in the online mattress and sleep solutions space, Bengaluru-headquartered Wakefit.co on Tuesday said it aims to hire 200 people in the next couple of months to fuel growth, as it looks to replicate its success in the home solutions space. The new products will include study tables, book shelves, bedside tables, coffee tables, TV units, sofas, shoe racks, and dining tables, among others. Wakefit.co said it it is ramping up production capabilities as well as distribution network across Indian markets with the unveiling of a manufacturing facility in Jodhpur and Delhi. The company has announced an investment of ₹15 crore towards setting up of new facilities, expanding product lines and strengthening technological capabilities -- with an aim to target Rs 450 crore in revenue for the FY 2021. "We are invested in the science and innovation of home wellness, just as we have been in sleep wellness," Ankit Garg, CEO and Co-founder, Wakefit.co, said in a statement. "With our new production facility, the aim is to concentrate on breakthrough innovation capabilities, powered by scientific research in home ergonomics." SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-may-put-4-billion-into-indias-reliance-jio-months-after-facebook-invested-5-7-billion/articleshow/76957941.cms">Google may put $4 billion into India's Reliance Jio, months after Facebook invested $5.7 billion</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambani-next-goal-seems-to-be-the-retail-king-of-india/articleshow/76953716.cms">Mukesh Ambani’s next goal seems to be the ‘retail king of India’</a> <a href="https://www.businessinsider.in/thelife/personalities/news/mukesh-ambani-is-now-richer-than-elon-musk-and-google-founders-larry-page-and-sergey-brin/articleshow/76955217.cms">Mukesh Ambani’s $72 billion fortune makes him richer than Elon Musk and Google’s Larry Page and Sergey Brin</a>

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Wakefit.co is targeting Rs 450 crore revenue in FY2021. The founders tell us how they plan to reach there

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Sumit Vyas is back with another rant for Wakefit.co, calls for work-from-home for life!

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Wakefit.co clocks 223% increase in revenues over last year during the Festive Sale; records 43% traffic from Tier-II cities

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