‘WASH’ debuts on MAI, targeting 160 branches in fiscal years 2026-2027 Poised to expand into the Northern and Southern regions To foster expansion and leverage sustainable growth strategy

Laundry You Public Company Limited (WASH), one of Thailand’s leading full-service laundromat operators under the “WashXpress” brand, debuts on the Market for Alternative Investment (MAI) as the Company is determined to grow on its current success by expanding its branch network at least 160 branches in fiscal years 2026-2027. This is a part of WASH’s strategic expansion plan to push into the Northern and Southern regions, increasing the number of company-owned-and-operated branches to 670. The Company highlights its business expansion strategy with a model that can create recurring income. In the meantime, the Company reported strong six-month revenue growth to 474 million baht with profit increasing by 93 percent, while its Same Store Sales Growth (SSSG) grew by 13 percent, driven by new services and effective marketing. WASH aims to become Thailand’s leading full-service laundromat operator, ready to revolutionize the industry with innovation and technology to create a pleasing experience, making laundry chores easier for the community. 

Mr. Kawin Klongkratoke, Chief Executive Officer and Co-Founder of Laundry You Public Company Limited (WASH), announced that the Company’s shares began trading on the Market for Alternative Investment (MAI) on November 3, 2025, in the Services Industry Group, using the trading symbol “WASH”. This move is a follow-up process to the successful initial public offering (IPO) of 105,882,352 shares at a price of 7.50 baht per share. The offering attracted interest from all investor groups and received an overwhelming response, reflecting confidence in the Company’s strong business fundamentals and future growth potential. Throughout its business history, WASH has operated under its vision to revolutionize the laundry experience in communities by creating innovative and data-driven services powered by technology to deliver the ultimate experience for modern consumers under the concept of “Clean, Convenient, and Comfortable”. This approach perfectly addresses changing lifestyle and the expanding urbanization of Thai society, while fostering sustainable growth for the future.

“On behalf of the entire WASH team, I would like to thank you for your trust in us. I am very honored to bring WashXpress into the Thai capital market. We are ready to move forward and achieve our full potential to generate the highest possible returns for all shareholders. The Company’s core mission is to transform laundry chores into a simple experience, giving back ‘time’ to community members and in effect provide them with a better quality of life. We do not aim to merely become a market leader; we aspire to be a ‘revolutionary force’ driven by innovation and technology. This means setting new standards for the Thai laundromat industry, entirely guided by the principle of creating sustainable value for businesses, society, and the environment. We promise that WASH will never stop development in our determination to create sustainable success for all stakeholders,” Mr. Kawin added.

Mr. Chisanupun Tangchalermkul, Chief Development Officer and Co-Founder of Laundry You Plc., disclosed that the Company plans to achieve exponential growth by expanding the number of its branches to cover high-potential areas through the “cluster expansion” strategy which involves the opening of 5 to 10 new branches in close proximity to each other. This game plan was designed to rapidly build brand visibility in new areas, while also increasing management efficiency and reducing construction costs. The strategy will be implemented across 21 provinces where the Company currently operates, as well as in new, untapped markets—particularly in the northern and southern regions—to ensure comprehensive nationwide coverage.

The Chief Development Officer of WASH further stated that the Company aims to open at least 240 new, company-owned-and-operated branches by the end of 2027, implemented into two phases. The first phase is the opening of 80 new branches in 2025, followed by at least 160 new branches between 2026 and 2027, with a focus on company-owned-and-operated branches. By 2027, the Company aims to operate a total of 670 such branches. This strategy will allow WASH to maintain full control over service quality and standards, enhance management flexibility, and, most importantly, generate recurring income - a key factor leading to sustainable growth.

In addition to expanding its network, the Company also prioritizes the upgrading of existing branches to maintain competitiveness and increase sales. A budget of 100 million baht has been allocated for 2026-2027 for the renovation and upgrading of existing WashXpress laundromats. The plan includes increasing the number of washing and drying machines in high-traffic branches, as well as introducing new services such as wash, dry, fold, and ironing, and refurbishing stores to enhance WashXpress’s modern brand image. Improvements will also include expanding parking spaces and enhancing customer comfort through facilities such as air-conditioned waiting areas, ensuring the best possible experience and maximum convenience for customers.

Miss Suthang Khonsilpa, Managing Director - Investment Banking Department 2 of Yuanta Securities (Thailand) Company Limited, in the capacity as financial advisor and underwriter, reiterated that WASH possessed five key strengths that highlight the Company’s potential as a growth stock worth keeping a close eye on. These are:

1. Strong and proven operating performance: The Company has demonstrated impressive revenue growth between 2022 and 2024, achieving a compound annual growth rate (CAGR) of 33.16 percent, alongside an average net profit growth of 18.63 percent per annum. The operating results for the first six months of 2025 continue to show robust growth. Notably, same-store sales growth (SSSG) has remained positive, underscoring the strength and resilience of the Company’s core business
2. Clear growth strategy with focus on sustainable revenue: The Company focuses on expanding a network of company-owned-and-operated branches that ultimately account for more than 85 percent of the total number of branches. This approach allows full control over service quality and standards, generating stable recurring income. Moreover, the Company also presents a clear plan to utilize the funds from the IPO to open at least 160 new branches by 2027.
3. Strong Market Position and a Well-recognized Brand: Currently, WashXpress is one of the major players in the industry with over 548 branches in 21 provinces, conveniently meeting the needs of modern consumers, as evidenced by the number of registered users via the WashXpress application, which has continuously grown to more than 1.5 million accounts at present.
4. Leveraging Technology for Competitive Advantage: The Company’s WashXpress application has not been designed only as a payment channel, but also as a valuable tool in Customer Relationship Management (CRM) through a loyalty point system. Most importantly, it is a large data warehouse of customer behavior (Data Analytics) effective for analysis and planning more accurate marketing strategies.
5. Operating in a High-Growth Industry: The self-service laundry business is directly driven by the megatrend of urbanization – changes in living patterns from composite family groups to single families or condominium living. Combined with more hectic lifestyles, the changes have resulted in the continuous increase in the demand for self-service laundry services.

“WASH demonsrates compelling strengths across the board from its proven growth history and strong financial position and cash flow to a clear strategic plan aligned with market trends. This IPO serves a fuel for accelerated growth and further reinforce the Company’s market leadership. For investors who recognize the potential of the full-service laundry business, investing in WASH shares presents an opportunity to become a co-owner of a business managed by a professional team standing ready to steer the business forward with stability and sustainability,” concluded Miss Suthang.