EP52: 600k users & creating a Brand for Generations starting on Amazon {Ankit of Wakefit}

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By Varun Vummidi. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

EP52: 600k users & creating a Brand for Generations {Ankit Garg, Co-Founder of Wakefit}

Ever wondered what the deal was with foam mattresses? Is it better that coir? Listen in.

Ankit Garg of Wakefit is on the show this week, Wakefit is a mattress brand that has been offering Indian customers the ability to buy a mattress online and have it home delivered at a very affordable price. Bringing down the cost while making it convenient to upgrade old mattresses.

In the conversation we chat about the size of the mattress market, building a brand for generations & a lot more about mattresses!

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→ Go Subscribe to the Newsletter via stars.substack.com so that you can receive future podcast releases delivered to your inbox!

→ Full episode of the podcast is available on my YouTube Channel

→ Avail a Wakefit.co discount using code: WFSTARS27 for a 27% discount on MRP and applicable to online orders on their website website only [terms: discount applicable 3rd March to 31st March only on orders above INR 1000]

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Wakefit identifies itself as a sleep and home solutions company, and has raised ₹185 crores as a part of its Series B funding in 2020 with investments from European investment firm Verlinvest & existing investor Sequoia Capital India.

The company has been profitable since inception with its revenue growing from ₹80 crore in 2018-19 fiscal to ₹199 crore in 2019-20 fiscal, as per audited financial statements. With almost 35% of the demand from tier 2 and tier 3 markets. Wakefit is playing in the furniture segment in India that is currently worth $17 billion and is growing at a compound annual growth rate of 15-17%.

Do spread the word!

- V { Twitter @varunvummidi }

Timeline:

02:07 - Reviews on Amazon

05:36 - Iteration process

10:54 - How does customer interactions translate into products?

16:54 - When does one diversify?

19:40 - Selling a touch-and-feel product via the Internet

24:00 - What’s special about foam tech?

29:40 - Is foam mattress better than coir mattresses?

39:01 - Do mattresses need to be replaced?

40:24 - Raising funds for Wakefit

45:02 - Does depending on Amazon carries a platform risk?

54 episodes