How Tumbledry's Gaurav Nigam Built A Rs 100 Crore Laundry Business In 4 Years

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posted on 1 year ago — updated on 1 second ago

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A simple idea and an effective execution plan are things you need to make a business work in a market as big as India

A simple idea and an effective execution plan are things you need to make a business work in a market as big as India. That’s exactly what entrepreneur Gaurav Nigam did with his idea of Tumbledry which offers laundry and dry-cleaning services. Established just four years ago, Tumbledry has already made a significant impact in the industry, expanding its presence to over 180 cities across the country. With ambitious plans for growth, the company aims to increase its number of stores to over 600 in the near future, reported DNA. In the previous financial year, Tumbledry achieved an impressive revenue of Rs 116 crore, riding on a growth wave under the leadership of CEO Gaurav Nigam.

With degrees from IIT Dhanbad and IIM Ahmedabad, Nigam embarked on his journey with Tumbledry in 2019, and within a short span of time, the company has demonstrated remarkable financial growth. In FY 2019-2020, Tumbledry logged a revenue of Rs 6.5 crore, which zoomed up to Rs 24.3 crore in 2021-2022. The latest financial year saw exceptional progress, with a revenue of Rs 116 crore, marking an impressive growth rate of 377 per cent.

But before Nigam moved to his own start-up, he worked in various sectors, gaining experience in things. Nigam started off as a defence scientist, focusing on radar technology at DRDO. He worked on the development of the SAR radar algorithm before moving to IIM Ahmedabad.

Following his MBA, Nigam worked with brands like Airtel and Lava, a mobile handset company.

Nigam and his co-founders drew inspiration for Tumbledry while travelling in Southeast Asia, where they observed a thriving laundry market. Recognizing a gap in the Indian market, they identified the absence of an organized laundry sector in the country. They decided to tap into the gap and launched their first Tumbledry store in Noida.

Tumbledry envisions substantial growth, projecting a revenue of Rs 225 crore for the financial year 2023-2024. The company has plans to open 500 new stores, further expanding its reach and establishing itself as a prominent player in the laundry and dry-cleaning industry.