The Sleep Company, a comfort-tech start-up, today announced the second tranche of ESOP (Employee stock ownership plan) buyback for its employees. The current buyback will benefit a total of 105 employees, including 50 per cent of women employees, reflecting The Sleep Company's commitment to diversity and inclusion within its workforce.
The company has rolled out the second tranche of the programme in just four years since its inception, which is set to benefit employees irrespective of their seniority.
The Sleep Company has achieved significant growth with its revenue growth increasing 2.6 times over the last 12 months, reaching Rs. 130 crore in sales in 2023. Through its omnichannel model, the company has over 70+ stores across the country and is well on its way to opening 150+ stores by the end of 2024.
The Sleep Company Cofounder Priyanka Salot said, “The second round of this programme also makes us the only company to offer two rounds of ESOPs within the first four years of business. As we embark into the new year with new challenges, we hope the ESOP buyback option will continue to enrich the lives of our employees and keep them motivated. We are confident that by investing in our people, we are investing in the future of The Sleep Company.”
As part of its growth plans, the company plans to hire over 500 employees by the end of 2024. The company rolled out its first ESOP buyback programme in 2023 worth Rs 83.47 lakhs.
