Latest News | LG Electronics Enter Self-laundry Service in India, to Invest USD 4 Mn in 2024
Get latest articles and stories on Latest News at LatestLY. Leading home appliances maker LG Electronics India on Wednesday announced its entry into the self-laundry services space, where it is planning to invest USD 4 million (around Rs 33.2 crore).
New Delhi, Feb 7 (PTI) Leading home appliances maker LG Electronics India on Wednesday announced its entry into the self-laundry services space, where it is planning to invest USD 4 million (around Rs 33.2 crore).
The company has announced a new business venture -- innovative self-laundry service, which will be for university students, said a statement from LG Electronics India, a wholly owned subsidiary of South Korean chaebol (conglomerate) LG Electronics Inc.
The company said it is planning to open 200 such self-laundry service centres by the end of this year.
LG's foray into the commercial washing machine multi-housing business introduces a new line of services, bringing self-laundry solutions to college and university hostels, the company said in a statement.
The first self-laundry service under the initiative is being introduced by LG Electronics in a private university in Greater Noida, which will serve 1,500 students, it said.
LG Electronics India MD Hong Ju Jeon said, "With self-laundry service at educational institutes, we are announcing a new business venture aimed at enabling convenience for young students. We will be investing USD 4 million in this business and plan to open 200 self-laundry service centres by the end of 2024."
The company will enter into partnerships that drive innovation and help people enjoy a better life, he added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)