Wakefit plans nearly 80 new COCO stores in FY27 as mattress demand formalises
Wakefit had 165 company-owned stores across 100 cities as of June 30, 2026 and plans nearly 80 more in FY27. Q1 FY27 revenue rose 16.6% year on year to ₹404.91 crore, as organised mattress retail gains share.
What happened
Wakefit Innovations · India’s mattress market is premiumising and formalising. Wakefit is accelerating company-owned store expansion and reported Q1 FY27
Key facts
- India sleep economy estimated at ₹30,000 crore
- Indian mattress market projected to grow from US$2.94 billion in 2025 to US$5.94 billion by 2033, a 9.3% CAGR
- Organised mattress segment is about 40% of the market and estimated to grow at about 17% CAGR
- Wakefit had 165 COCO stores across 100 cities as of 30 June 2026 and plans nearly 80 new COCO stores in FY27
- Wakefit operates through 2,250 MBO stores across 701 cities
- Wakefit Q1 FY27 revenue was ₹404.91 crore, up 16.6% YoY; PAT was ₹23.38 crore
- Sheela Foam Q1 FY27 consolidated revenue was ₹1,031.94 crore, up 25.6% YoY; PAT was ₹62.34 crore
- Sheela Foam has more than 20,000 retail touchpoints in India and beyond
Why this matters
Wakefit’s move from 165 stores toward roughly 245 COCO locations strengthens its strategic position in a fragmenting mattress market and raises the premium on attractive regional retail opportunities.
What to watch
- Quarterly net store additions versus the nearly 80-store FY27 target.
- Same-store sales growth and revenue per store as the base expands from 165 locations.
- Gross margin and EBITDA trend, especially rent, employee and pre-opening cost intensity.
- Furniture and accessories share of sales, indicating successful in-store cross-sell.
- Growth in tier-2 and tier-3 city contribution versus metro-store performance.
- Evidence of online-to-offline and offline-to-online customer conversion.
- Competitive store expansion or discounting by organised mattress and home-living rivals.
- Prioritise clusters in cities where online demand and delivery volumes already justify store economics.
- Use new stores to expand higher-ticket furniture, sleep accessories and furnishing bundles rather than relying only on mattress sales.
- Strengthen store-level inventory planning and local fulfilment to prevent working-capital pressure during rollout.
- Increase local-language and housing-society-led marketing in tier-2 and tier-3 markets.
- Track COCO store payback tightly before accelerating beyond the FY27 plan.