Wakefit is Casper of India
Where Indian brands copy successful brands
Where Indian brands copy successful brands
Wakefit copied a billion dollar startup Casper’s business model for the Indian market. Like Casper, it is also an online mattress startup. Casper launched in 2014, while Wakefit launched in 2016.
Casper became a social media phenomenon, with celebrities like Kylie Jenner showing off pictures of their new mattresses on Instagram and YouTube. It sells affordable mattresses from $ 350 to $ 2750. There is a 100 day free trial. It has raised $ 340mn till date, with $ 400mn in annual revenue. Global mattress marketis about $ 39bn.
Wakefit is from Bengaluru, with its own manufacturing unit.It sells mattresses starting from INR 6000 and beds starting from INR 13000. It expects to generate the revenue of INR 200cr for FY20. It has served more than 5 lakh customers. It has raised a funding of INR 65cr. Indian mattress market is about $ 1.7bn.
Read more: Co-founder Chaitanya’s interview to Business Insider. Link