Gaurav Teotia’s journey from esteemed educational institutions to co-founding Tumbledry, a prominent laundry and dry-cleaning chain, exemplifies entrepreneurial success driven by strategic vision and academic excellence.
Teotia, a graduate of both IIT Dhanbad with a B.Tech in Electronics Engineering and IIM Ahmedabad with an MBA, stands at the helm of Tumbledry, which he co-founded in 2019. The company has rapidly expanded its footprint, boasting over 1000 stores across 360 cities nationwide.
His educational achievements underscore his dedication and aptitude, having been recognized as a rank holder at IIM Ahmedabad and a Gold Medalist at IIT Dhanbad. With over seven years of experience spanning Strategy, Business Planning, and Sales at prestigious firms like Airtel, LAVA, and DRDO, Teotia brings a wealth of expertise to Tumbledry’s operations.
In a recent interview with CEO Insights, Teotia discussed the genesis of Tumbledry, citing inspiration from witnessing the thriving laundromat market in South East Asia during travels from 2016 to 2018. Recognizing a gap in India’s market despite comparable income levels, Teotia, along with co-founders Navin Chawla and Gaurav Nigam, embarked on establishing Tumbledry to introduce organized laundromats to the Indian landscape. Their journey began with the inaugural store in Noida.
Under Teotia’s leadership, Tumbledry has achieved remarkable financial milestones. From a revenue of Rs 6.5 crore in FY 2019-2020, the company experienced substantial growth, reaching Rs 14.4 crore in FY 2020-2021. Despite challenges posed by the COVID-19 pandemic, Tumbledry accelerated its growth trajectory in FY 2021-2022, achieving a notable revenue of Rs 24.3 crore.
The fiscal year 2022-23 marked a significant milestone for Tumbledry, recording a staggering revenue of Rs 116 crore, reflecting an impressive growth rate of 377%. Teotia’s strategic acumen and steadfast leadership have positioned Tumbledry as a formidable player in India’s laundry and dry-cleaning sector, poised for continued expansion and success in the years ahead.
