Magniflex India Charts 35% Growth in Chennai; Plans to Expand Franchise Network in the State
Strengthens brand footprint with the launch of the Ergo Tre Electric Bed & Magniflex Investment Plan (MIP) Chennai, December 14, 2023: Magniflex India (Made in Italy), Europe’s no 1 mattress brand with a rich 60-year legacy and origin in Italy, is poised for substantial growth in the dynamic state of Tamil Nadu. The real estate market in Chennai has witnessed sales of over 16k home units within the first nine months of 2023, with luxury units comprising 20% of this total. According to data from ANAROCK Research, luxury housing sales in Chennai surged by an impressive 143%, leading to increased demand for premium home décor, bath fittings, imported furniture, and fine linens. Notably, the upscale mattress industry, exemplified by Italian brand Magniflex India, has seen a remarkable annual YoY growth of 40% with its annual revenue exceeding ₹21 Cr. To further strengthen its footprint, Magniflex India launches the Ergo Tre Electric Bed and introduces Magniflex Investment Plan (MIP) fo...