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ByNext, a leading technology firm based in New York known for its exceptional laundry and dry cleaning services, successfully completed the acquisition of Love2Laundry, the third-largest laundry service provider in the United Kingdom.
ByNext, a leading technology firm based in New York known for its exceptional laundry and dry cleaning services, successfully completed the acquisition of Love2Laundry, the third-largest laundry service provider in the United Kingdom.
This strategic maneuver is geared towards expanding their service reach across the United States while simultaneously laying the groundwork for a worldwide presence.
The incorporation of Love2Laundry into their operations bolsters their strategic objectives, positioning them as leaders in the home and business services sector.
This collaboration between ByNext and Love2Laundry represents a commitment to delivering an unparalleled customer experience through an extensive array of services designed to simplify the lives of their clientele.
Kam Saifi, CEO of ByNext, shared insights into this acquisition, emphasizing the strategic rationale. The addition of Love2Laundry to the ByNext portfolio will empower a seasoned management team to take the reins of international laundry services and solidify their presence in the UK market.
One key advantage of this acquisition is Love2Laundry’s cost-efficient operation, which ByNext plans to leverage to enhance their own financial efficiency.
The acquisition will also serve as a springboard for ByNext to expand its service portfolio beyond the US market. Nadeem Abbas, the CEO and founder of Love2Laundry, will transition into the role of Chief Marketing Officer and head of International Operations at ByNext.
The Founder and CEO of Love2Laundry, Nadeem Abbas, expressed his enthusiasm for this new chapter. He emphasized their shared vision for delivering exceptional services, which will create added value for shareholders and open up multiple growth opportunities. Nadeem thanked their dedicated team, shareholders, and loyal customers and emphasized their commitment to excellence and seizing new opportunities as they embark on this journey.
Micro Bulega, the Fund Manager and Investor of Love2Laundry, shared his excitement about the merger and ByNext’s global potential, citing the efficiency and expertise that this partnership brings.
The integration of operations, marketing, and platforms between the two companies has already commenced and is scheduled for completion by early 2024.
About ByNext:
ByNext is a leading tech-enabled cleaning and care service provider, offering eco-friendly laundry, dry cleaning, and residential and commercial cleaning services in New York, Los Angeles, Washington DC, and other metropolitan markets.
Their business model leverages unique technological platforms and 25 service hubs to optimize user experience and achieve industry-leading gross margins with minimal customer acquisition costs.
Furthermore, ByNext owns the right to operate the luxury laundry brand Madame Paulette (madamepaulette.com) to provide high-quality service to millionaires and rich fashion houses.
For more information about ByNext, please visit bynext.co.
About Love2Laundry:
Since 2014, Love2Laundry has been providing essential laundry services, initially launching in London and expanding to Manchester, Birmingham, Oxford, and six other countries.
Their platform offers a convenient solution for laundry, dry cleaning, ironing, alterations, and more through their app and website, catering to both students and adults.For additional information, please visit love2laundry.com.
Release ID: 89112293
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Contact Info:
Name: Kam Saifi
Email: Send Email
Organization: ByNext
Website: https://www.bynext.co
Release ID: 89112567
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