In FY 2023-24, Tumbledry aims to achieve a revenue of Rs 225 crore and open 500 stores, taking its total to 1000 stores
New Delhi: Laundry and dry clean brand Tumbledry recorded a revenue growth of 377% and a revenue of Rs 116 crore in the financial year 2022-23, the company announced in a release on Friday.
“We are extremely proud to have achieved this milestone, which is a testament to our unwavering commitment to customer trust, quality and convenience,” Gaurav Nigam, founder, Tumbledry, which has 500 stores across India. It has served 6.5 lakh customers to date, the release added.
The brand claimed to have become a Rs 100 crore brand with a gross merchandise value (GMV) of Rs 115 crore in FY 2022-23. It attributed its growth to its customer retention rate of 70%.
In FY 2022-203, Tumbledry also expanded its presence in tier 2 and tier 3 towns by launching more than 300 stores.
The brand had clocked Rs 6.5 crore in FY 2019-20, Rs 14.4 crore in FY 2020-21, and Rs 24.3 crore in FY 2021-22
In FY 2023-24, the brand aims to achieve a revenue of Rs 225 crore and open 500 stores.
The brand has established a training academy for laundry manpower in India. Three more centres across the country are in the pipeline.
“By following our proven business model, our franchisees have been able to set up successful stores and grow their businesses with Tumbledry. 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,” added Nigam.
The company, founded in 2019, has an app that can be used to place orders and avail free home pickup and delivery. Customers visiting the brand’s physical outlets can watch the cleaning process live at physical stores.
