The journey to securing admission to prestigious institutions like the Indian Institutes of Technology (IIT) and Indian Institutes of Management (IIM) is no easy feat. Individuals who graduate from renowned institutions like IIM gain invaluable knowledge and skills that equip them to excel in the marketing and business world. Gaurav Teotia, the co-founder of Tumbledry, embodies this journey.
Tumbledry is one of the largest laundry and dry-cleaning chains in India. Founded in 2019, it currently boasts over 1000+ stores across 360+ cities in the country. Gaurav played a significant role in establishing the company’s foundation. He holds a B.Tech in Electronics Engineering from IIT Dhanbad, and later, an MBA from one of India’s top colleges, IIM Ahmedabad. According to the Tumbledry official website, Gaurav was a rank holder at IIM Ahmedabad and a Gold Medalist at IIT Dhanbad. He brings seven-plus years of experience across Strategy, Business Planning & Sales, working in reputable organizations like Airtel, LAVA & DRDO.
In an interview with CEO Insights, Gaurav revealed the inspiration behind starting Tumbledry. During his travels to Southeast Asia in 2016-18, Gaurav, along with his co-founders, Navin Chawla and Gaurav Nigam, witnessed the thriving laundromat market. Despite comparable income levels, organized laundromats were absent in India. They recognized a gap in the market and decided to fill it by launching Tumbledry. This journey began with their first store in Noida.
Under Gaurav’s leadership, Tumbledry’s revenue growth has been remarkable over the past four fiscal years. The company achieved a revenue of Rs 6.5 crore in FY 2019-2020, followed by a significant jump to Rs 14.4 crore in FY 2020-2021. Despite facing the challenges posed by COVID restrictions, Tumbledry accelerated its growth in FY 2021-2022, achieving a staggering revenue of Rs 24.3 crore. In the financial year 2022-23, the laundry and dry clean brand recorded a massive revenue of Rs 116 crore, marking an impressive growth of 377%.
Tumbledry’s success story demonstrates the potential of a well-planned and executed business idea in the Indian market. The company’s rapid growth and impressive revenue figures are a testament to the dedication and vision of its founders, including Gaurav Teotia, who have successfully built a thriving brand in a short span of time. The company’s DNA app is now available for download on the Google Play Store. Download the app and share your feedback with them.
