VFI Opens New Foam Facility in India

Varahamurti Flexirub Industries (VFI) has inaugurated a groundbreaking PU foam production facility in Meerut, Uttar Pradesh. Last year, the initial operations were initiated, and it is anticipated that full-scale production would be achieved by October of this year. The company capitalizes on its products' ranking in the lowest tariff group, which is lower than that of numerous other prominent Indian brands, by exporting substantial quantities of PU mattresses to the United States.

The company has recently entered the UK market and produces white label mattresses for US-based brands. VFI Group currently maintains three production facilities in Meerut, one each in Haridwar, Vadodara, and Coimbatore, where they manufacture PU foam and mattresses. The total daily production across the sites is approximately 4000 mattresses. Equipment manufactured by Hennecke is included in its machinery.

The retail and hospitality sectors are currently served by VFI's product line, which encompasses luxury, premium, affordable, and orthopedic mattresses under the brand names Springfit, Beautyrest, Serta, Durfi, and Amore.

“This expansion underscores our commitment to meeting growing market demand and further solidifying VFI’s position as a leader in the PU foam mattress industry.”said executive director Nitin Gupta. “VFI operates in the premium mattress segment of the Indian and US markets; hence, our company is not subject to higher anti-dumping duties,” Gupta said. “According to data analysis by the Department of Commerce, the US VFI duty is determined at 13.35%.”

“Our yearly growth rate is roughly 30%, and we anticipate a 50% increase in the current fiscal year with the construction of a new foam plant at Meerut.”

“The luxury market is surging rapidly and projected to grow at about 8% annually from 2022 to 2026, driven by increasing awareness of quality sleep, higher disposable incomes, and a preference for premium products, especially among urban, affluent consumers,” said executive director Nitin Gupta.

Source: Utech