Spring Air inks 10-year licensing extension with Sri Lanka mattress maker
Furniture Today: Spring Air International’s long-time relationship with a Sri Lankan bedding manufacturer has now been extended for another 10 years.
After 16 years working together, Spring Air and Comfort World Sri Lanka have inked an extension in their partnership under which Comfort World manufactures and distributes Spring Air branded mattresses to its dealer base and hospitality properties in Sri Lanka, the Maldives, and Seychelles.
“Comfort World has been an outstanding steward of our brand,” said Spring Air President Nick Bates. “They not only have opened the top dealers in their territory, but also hotel properties in one of the most popular vacation spots in the world. We are looking forward to their continued growth with our brand with plans for deeper market penetration in its territory.”
This marks the fourth international licensing agreement the company has signed this year. Earlier this year, the company announced partners in Malaysia, Vietnam, and Ireland.
Comfort World specializes in mattress manufacturing in Sri Lanka, and Spring Air says its partner has an established reputation with retailers for providing quality sleep products in a broad range of price points.
“Our partnership with Spring Air has been a rewarding journey, marked by innovation and growth. With our shared values and commitment to comfort, quality and trust, Spring Air has been pivotal in elevating the standards of sleep solutions throughout this region,” said Comfort World Chairman Naushad Mohideen.
Since its partnership began with Spring Air in 2007, Comfort World has expanded its presence into the hospitality segment in the region.
“With Spring Air’s legacy of more than 90 years in crafting exceptional mattresses and dedication to providing an exceptional night’s sleep, we find that our customers are instantly drawn to the brand,” Mohideen said. “Our association with Spring Air has expanded our footprint across both the retail and hospitality segments here. Spring Air has helped us cultivate strong trust and loyalty among our customers with the superior comfort, support and overall sleep experience the mattresses deliver.”
OSL take:
The further extension of Spring Air’s operations in Sri Lanka is indicative of the growing confidence foreign businesses have to engage with business ventures in the island nation. Sri Lanka’s private sector businesses have recorded growth and profits amidst challenging economic conditions. This is indicative of the overall strength and growth of the country’s overall economy. With Sri Lanka’s economy getting back on track with expanding economic activities and business/investment opportunities, the growing business potential in the country has attracted the attention of many foreign businesses to explore the growing opportunities in the country. The growth in key economic sectors in the country which is on a path to becoming an emerging business destination in the South Asian region, have presented many business/investment opportunities. Foreign businesses/investors could explore the expanding business/investment opportunities in Sri Lanka while also looking at forming partnerships or joint ventures with local businesses with the aim of expansion.
| Article Code : | VBS/AT/20231110/Z_2 |