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Meet man who studied at IIM, IIT, then built Rs 1160000000 company, got inspired by…
Gaurav Teotia is the co-founder of Tumbledry, one of India’s largest laundry and dry-cleaning chains. Established in 2019, Tumbledry now operates over 1000 stores across more than 360 cities nationwide.
Updated : Nov 21, 2024, 06:34 AM IST
 "Meet man who studied at IIM, IIT, then built Rs 1160000000 company, got inspiration from…")
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Gaining admission to prestigious institutions such as the Indian Institutes of Technology (IIT) and Indian Institutes of Management (IIM) is a challenging task. Graduates from esteemed institutions like IIM acquire crucial knowledge and skills that prepare them to thrive in the fields of marketing and business.
Gaurav Teotia is the co-founder of Tumbledry, one of India’s largest laundry and dry-cleaning chains. Established in 2019, Tumbledry now operates over 1000 stores across more than 360 cities nationwide.
Gaurav played a key role in building the foundational structure of Tumbledry. He earned a B.Tech in Electronics Engineering from IIT Dhanbad and later completed his MBA from IIM Ahmedabad, one of India’s top business schools.
As per Tumbledry’s official website, Gaurav was a rank holder at IIM Ahmedabad and a Gold Medalist at IIT Dhanbad. He also has over seven years of experience in Strategy, Business Planning, and Sales, having worked with renowned organizations such as Airtel, LAVA, and DRDO.
In an interview with CEO Insights, Gaurav shared the inspiration behind starting Tumbledry. He mentioned that during their travels to South East Asia between 2016 and 2018, he and co-founders Navin Chawla and Gaurav Nigam observed the rapid growth of the laundromat industry there.
Despite similar income levels, India lacked a well-defined, organized laundromat market. To address this gap, the trio decided to launch a company focused on this sector in India. Their journey began with the opening of their first store in Noida.
Under Gaurav's leadership, Tumbledry has experienced impressive revenue growth over the past four fiscal years. In FY 2019-2020, the company earned Rs 6.5 crore in revenue. This figure grew significantly, reaching Rs 14.4 crore in FY 2020-2021.
Despite facing challenges and COVID-related restrictions, Tumbledry accelerated its growth in FY 2021-2022, achieving an impressive Rs 24.3 crore in revenue.
In FY 2022-2023, the brand saw a remarkable surge, recording a revenue of Rs 116 crore, marking a staggering 377% growth.
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