-As a comprehensive laundry tech company with Laundrygo, Laundry24, and Laundrygo Hotel & Business, we are focusing on growth potential.
Strengthening collaboration in laundry tech, including mobile, unmanned, and smart factories, in the global market.
Strengthening cooperation with LG Electronics on commercial appliances, establishing a virtuous partnership model between large corporations and startups.
Food and Beverage Company (CEO Seong-Woo Cho), which operates Korea's No. 1 mobile laundry service 'Laundrygo', announced on the 23rd that it has signed an investment contract with LG Electronics and attracted a total of 10 billion won in investment.
Since launching the non-face-to-face mobile laundry service 'Laundrygo' in 2019, Food and Beverage Company has grown it into the number one service in Korea in terms of mobile laundry sales, and has led innovation in the laundry market with 'Laundry24', an unmanned smart laundromat with 176 locations, and 'Laundrygo Hotel & Business', which provides hotel laundry services, attracting over KRW 100 billion in investment from leading domestic and foreign investors, including Altos Ventures.
With new investment from LG Electronics, a global leader in home appliances, SikSikJu Company has once again demonstrated its competitiveness and growth potential as a comprehensive laundry tech company. This investment stems from the belief that collaboration between future home appliances and services is essential to strengthening differentiated competitiveness in the rapidly changing domestic and international home appliance and laundry markets.
The two companies will solidify their laundry tech collaboration in areas such as entering the global market for mobile and unmanned laundry technology and establishing a smart factory (EPC) for large-capacity laundry processing. They will also join forces to develop future technologies based on various customer insights and data generated from home appliances and services.
In addition, the company has agreed to cooperate in expanding LG Electronics' commercial home appliances and improving customer experience in the future, including introducing LG Electronics' recently launched integrated washing machine and dryer products at Laundry24 Smart Factory and Laundry24 unmanned laundromats.
Based on LG Electronics' investment, Food, Drink and Housing Company aims to actively utilize the conglomerate's global market expertise and network to create a successful overseas example.
“It is very meaningful that a large corporation with the highest global competitiveness and a startup are opening up a vision for the global market together through various collaborations to pioneer future markets,” said Jo Seong-woo, CEO of Food, Beverage, and Housing Company. “We expect this investment to become an excellent example of a virtuous cycle of investment and growth between a large corporation and a startup.”
Food, Clothing and Home Company has grown more than 30-fold in just five years, from KRW 1.6 billion in sales in 2019 to KRW 55.7 billion in 2024. The company expects to continue this growth across all business divisions this year, significantly improving profitability by more than KRW 10 billion.
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