India has been recording impressive economic growth over the past few decades. The fast-paced economy has brought with it a plethora of affiliated concerns, paving the way for large scale disruption in the health and wellness market. A study by FICCI and EY suggests that the wellness industry will be growing at about 12% for the next 5 years, and reach an estimated high of INR 1.5 trillion by 2020. With people's lifestyles getting hectic and stressful, the wellness market presents a huge opportunity for companies to go beyond categories like food, fitness and mental health and take into consideration the immense potential for the sleep health and wellness market.
In an endeavor to effectively tap this industry and bring to light the need to make sleep a priority in people's health regimen, Wakefit was established in March 2016 as a holistic sleep solutions company. It aims to revolutionize the way Indians sleep and enhance the quality of sleep by providing research-based solutions at an economical price. With a vision of democratising sleep in the country, Wakefit specializes in providing Orthopedic memory foam mattresses that come in various sizes.
Founded on the tenets of extensive research, superior quality and affordable pricing, Wakefit is the brainchild of Ankit Garg and Chaitanya Ramalingegowda. Having graduated from IIT Roorkee with a specialization in chemical engineering, Ankit started his career at Bayer Chemicals, a German multinational corporation, in the new product development division. He also worked in the process excellence department at Tapzo, a Sequoia Capital backed startup. His rich experience over the years provided him with deep insight into the existing gaps in the industry and helped spark his entrepreneurial dream. The present CEO of the company, Ankit's vision to change the way India perceived sleep health inspired him to establish Wakefit in 2016 along with Chaitanya Ramalingegowda. Chaitanya completed his graduation in 2002 from the National Institute of Engineering, with a Computer Science specialization. He then acquired an MBA degree in 2005 from the Indian School of Business, Hyderabad. He has been providing startups with mentorship and angel investment through companies like PurpleGull Services, NeotecHub and Let'sVenture.
Wakefit recognizes the value of a good night's sleep and has thus, invested more than 1000 hours in R&D to maintain quality benchmarks and provide premium quality products to customers. The company understands customer behavior in India and employs advanced technology solutions from across the globe to deliver world-class mattresses and other sleep solutions to people across the country.
Wakefit distributes its products through its own online platform as well as through marketplaces like Amazon, Flipkart and Pepperfry. This helps the company in controlling the supply chain, eliminating middlemen and making its products cost-effective for the end user. Wakefit's e-retailing strategy helps the company assimilate an abundance of valuable data, which in turn facilitates effective customer acquisition and loyalty. The product portfolio allows customers from different demographics to enhance the quality of their sleep. The customer experience is further improved due to the in-depth understanding showcased by the customer experience team about the science of sleep.
- Memory Foam Mattresses: Made of premium quality memory foam and a multi-layer construction, this mattress moulds itself to the shape of a person's body, resulting in a restful and luxurious sleep for users due to better pressure distribution. This type of mattress is highly effective in avoiding back pain, as it provides optimum spine support.
- Dual Comfort Mattresses: This type of mattresses has been introduced for people who wish to try out two levels of firmness. One side of the mattress has a medium degree of firmness while the other side is medium soft. A person can opt for the preferred level of firmness after experimenting with each side.
Wakefit mattresses are manufactured with the highest purity levels and are expertly designed with Memory Foam technology, providing a heightened sense of comfort for customers while sleeping. Its exceptional memory foam ensures that the mattress takes the shape of a person's body and doesn't lose its shape even after continuous usage over a period of time.
Wakefit also offers products such as waterproof removable mattress covers, sleeping pillows, bed sheets, chair cushions, and neck pillows as part of its portfolio. In addition to the product offerings, the company gives customers attractive features like a 20 year warranty period, a 100 night risk-free trial, no cost EMI for its mattresses and free home delivery services. In an effort to manufacture all its products locally, Wakefit has set up a manufacturing unit in Bangalore and has warehouses in Bangalore, Hyderabad, Pune and Mumbai. Wakefit has serviced more than 2 lakh customers since 2016 and boasts of a positive growth trajectory that has translated into happy and satisfied customers.