Tumbledry Takes the Laundry Industry by Storm with 377% Revenue Growth in FY 22-23, Targeting 225 Cr Revenue in FY 23-24
New Delhi, May 19, 2023:Expanding its presence in Tier 2 and Tier 3 also, Tumbledry launched 300+ Stores in India in FY 22-23 taking the total store count to 500. Tumbledry has successfully served a staggering 6.5 lakh customers, cementing its position as a leading player in the laundry services industry.
Tumbledry’s revenue growth over the past four fiscal years has been truly impressive. In FY 2019-2020, the company recorded a revenue of INR 6.5 crore, which soared to INR 14.4 crore in FY 2020-2021, representing a staggering growth of 122%. Building on this momentum, Tumbledry further accelerated its growth in FY 2021-2022, achieving a remarkable revenue of INR 24.3 crore, showcasing an impressive 65% increase despite covid restrictions and challenges. The company’s growth trajectory continued to skyrocket in the most recent fiscal year, FY 2022-2023, where Tumbledry recorded an extraordinary revenue of INR 116 crore. This substantial leap signifies an exceptional year-on-year growth of 377%.
Looking ahead, Tumbledry is poised for continued success as it projects an impressive revenue of INR 225 crore for the upcoming fiscal year, FY 2023-2024. This ambitious projection underscores the company’s confidence in its ability to retain existing customers by providing world-class quality and acquiring new customers through customer-centric marketing. The projected growth represents a staggering growth of almost 100%. Tumbledry plans to launch 500 new stores in FY 23-24.
Setting itself apart from competitors, Tumbledry has established the first-ever Training Academy for Laundry Manpower in the country, playing a vital role in its phenomenal growth. In response to escalating demand for its services, the company plans to expand its training center’s capacity and launch three additional training centers across India, dedicated to hiring and training manpower for its franchisees.
Speaking about the brand’s achievement, Mr Gaurav Nigam, Founder of Tumbledry said, “We are extremely proud to have achieved this milestone, which is a testament to our unwavering commitment to customer trust, quality and convenience.” He further explained, “Laundry is a latent problem in the everyday lives of half a billion urban Indians. In spite of being such a basic need and having huge demand, there was a complete absence of a well-organized laundry system. Tumbledry bridged this gap and people welcomed our services wholeheartedly.”
Mr Gaurav Nigam attributes the rapid growth of Tumbledry to their robust franchise model, which has facilitated rapid expansion and penetration in even smaller cities and towns, where the demand for quality laundry and dry-cleaning services is growing. He added, “By following our proven business model, our franchisees have been able to set up successful stores and grow their businesses with Tumbledry. With a strong support system in place, our franchisees receive training and guidance on operating the business and benefit from our marketing and promotional activities. Our focus is not just on opening new stores, but rather on effectively managing them. We are committed to helping our franchisees succeed and are proud to see the positive impact Tumbledry is having in communities across India.”
Tumble dry’s growth story is a testament to the power of quality, innovation, and customer-centricity, and the company is poised to continue its upward trajectory in the years to come.