Fabric Spa acquires Snoways Laundary

Fabric Spa chain of laundry promoted by Jyothy Laboratories has acquired Snoways for an undisclosed sum. Snoways is the second largest chain in Bangalore after Band Box. Snoways had a topline of Rs 5 crore while the later has Rs 10 crore.

Speaking after the announcement, Mr Ullas Kamath, of Jyothy Laboratories said,

JFS – Jyothy Fabricare Services has been set up to provide laundry services to the retail and institutional segments in cities like Bangalore, Pune, Hyderabad and Chennai. The laundry business is estimated to be around Rs 6,000 crore but is largely unorganised and we believe that our firm which has presence in the fabric care business can position itself as a national player.

JFS is banking on the white collar IT professionals for its growth. It is targeting 500,000 households of the 2 mn households in Bangalore for retail point of service and 5,000 recession proof households for door-to-door service.

It is expected to clock a topline of Rs 15 crore this FY and expand to Chennai, Pune and Hyderabad.