Jyothy Laboratories enters laundry services.
Unveils Fabric Spa: (From left) Mr M.P. Ramachandran, CMD, Jyothy Laboratories; Mr K. Ullas Kamath, Deputy Managing Director; and Ms M.R. Jyothy, Managing Director, at a press conference in Mumbai on Wednesday.
Mumbai, July 30 Jyothy Laboratories is making a foray into laundry services with an initial investment of Rs 40 crore. A new subsidiary company, Jyothy Fabricare Services (JFSL), has been floated to create a fabric care retail brand under the name of Fabric Spa.
JFSL will have a model whereby it would offer its services through retail showrooms and at the same time cater to institutions as well as households through door-to-door laundry services. The laundry services would be classified as super premium, premium and economy depending on the cost and nature of service that is being offered.
At a press conference, Mr K. Ullas Kamath, Deputy Managing Director, Jyothy Laboratories, said, “We have decided to start our laundry services in Bangalore as it is easy to tap into the potential set of customers such as IT professionals and bachelors living in this city.” In fact the company is already taking the advice of consultancy firm KPMG to study the potential of this business in the country.
Mr M.P. Ramachandran, Chairman and Managing Director, Jyothy Laboratoroies, said: “We believe that the rising middle class population and affordability to buy branded garments will open up opportunities for a Spa like ours to give value added services and a whole new experience.”
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