Aims to become the brand of choice for UAE's diverse population
(BUSINESS WIRE) -- Wakefit.co, India's leading sleep and home solutions company, announced its business expansion into the United Arab Emirates (UAE), a highly sought-after market for global brands. The UAE is a major market in the Middle East and North Africa (MENA) region and is known for its strong economy, favorable business environment, and strategic geographic location. The company entered the region with a focus on its main categories: mattresses and mattress protectors. The offering saw a strong uptake from customers and the pilot batch was sold out within the first few days of the launch.
Wakefit.co is a pioneer in the sleep and home solutions market in India, and is confident that it can replicate its success in the UAE with its unique and inclusive offerings. As the company embarks on its early stages of international expansion, it will largely focus on offering its sleep solutions products in the UAE market. Presently, customers in the UAE can conveniently access Wakefit.co products on Amazon.ae, and the company is actively exploring additional platforms while considering a direct-to-consumer (D2C) channel for future growth opportunities.
The online market in the UAE has shown impressive growth, with a steady CAGR of 8.6% (source). This further empowers Wakefit.co to meet the distinctive needs of the Emirati community and the subcontinent diaspora in the country. Recognising the region's substantial purchasing power and market size, the company aims to cater to an audience that is looking to shop for sleep solutions products online. By targeting this audience, Wakefit.co wants to establish itself as a trusted and reputable name in the burgeoning UAE market.
Sharing his views on the expansion, Chaitanya Ramalingegowda, Director and Co-founder, Wakefit.co, said, “Expanding in the UAE market is a significant milestone for Wakefit.co. We have witnessed enormous growth since our inception, and we aim to replicate this growth in the UAE as well. Our goal is to capitalize on the UAE's growing e-commerce market and serve the large consumer base. The strong economy and favourable business infrastructure of the region present an ideal environment for us to find our initial customers and establish Wakefit.co as a trusted name in the market. We believe that the UAE market is a great opportunity for us to grow our business and become a leading provider of sleep solutions in the region.”
Anand Menon, General Manager - Strategy, Wakefit.co, said, “We are thrilled to bring Wakefit.co's acclaimed sleep solutions products to the UAE market. We have worked diligently to make this expansion possible, and are proud of the efforts we have put in to bring this expansion to life. While we have initially introduced some bestsellers from our range of sleep solutions products such as mattresses and mattress protectors, our ultimate goal is to provide a more comprehensive product offering in the UAE market. Our aim is to be empathetic and mindful as we understand the cultural codes and regulatory guidelines of the region. We are confident that the UAE market will serve as a solid bedrock for our international expansion endeavors, enabling us to establish a strong presence in the region."
Wakefit.co came to inception in 2016 with a range of sleep solutions products, and eventually expanded into the home solutions space. The company has currently serviced customers across 19,000 pincodes in India over more than 7 years and has catered to a customer base of over 2 million people. Its products are available in India on its own website, offline retail stores, and popular online marketplaces. The company has garnered over 7 lakh positive reviews across various online platforms and takes pride in being the industry leader in the sleep and home solutions space. Wakefit.co is backed by prestigious investors like Sequoia Capital India, Verlinvest, SIG and Investcorp, and has raised four rounds of funding (Series A through D) so far.