Saturday, February 17, 2024

Tech

LaundryGo operator Lifegoeson Corp., surpasses 5 billion won in monthly sales...first operating profit before amortization



Lifegoson Corp. announced on April 13 that its March sales grew 105% year-on-year to 54.2 billion won, surpassing 5 billion won in monthly sales for the first time, and its earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of cash flow, turned positive for the first time.
 
This marks a significant achievement for Lifegoeson. as it has focused on innovating the mobile laundry sector by upgrading its IT technology and infrastructure over the past three years, diversifying its business portfolio around laundry to become a comprehensive laundry company.
 
LaundryGo, which opened the era of non-face-to-face mobile laundry in 2019, has built the world's largest B2C laundry infrastructure, securing 500,000 member households and showing solid growth of more than 2 times every year. LaundryGo's unmanned laundry, 'LaUNDRY24', hotel laundry, 'LaundryGo hotel & business', and 'LaundryGo EPC', which is responsible for design, procurement, and construction in the laundry industry, have grown rapidly and accounted for 40% of total revenue last month.
 
LaundryGo posted 37 billion won in consolidated sales in 2022, 2.74 times faster than in 2021 and 5.3 times faster than in 2020, as it secured differentiated and diversified business competitiveness centered on laundry.
 
Consolidated revenue of 37 billion won from the Lifegoeson. Corp., was different from the 33 billion won earned by individual mobile laundry sales. This is a growth of 2.74 times compared to 2021 and about 23 times compared to 2019, validating the successful business competitiveness differentiation and diversification strategy centered on the keyword 'laundry' in the long-stagnant laundry industry competition.
 
In particular, 'LaUNDRY24', a smart unmanned laundry, has opened more than 120 unmanned stores in Seoul and the Seoul metropolitan area, preempting the unmanned laundry sector.  'LaundryGo hotel & business' has achieved the No. 1 share in the hotel laundry sector. LaundryGo, which already has the core functions of the used clothing business such as laundry and logistics systems, plans to enter the used clothing sector in earnest this year.
 
"The results of our investment in IT technology and infrastructure over the past four years to become a comprehensive laundry company are beginning to show," said Cho Sung-Woo, CEO of Lifegoeson Corp. "We will continue to do our best to grow into a global company that continuously creates innovations for the enriched lives of busy modern people, which is the vision of Lifegoeson Corp"

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