OR collaborates with K-Nex Corporation in expanding the “Otteri Wash & Dry”
OR invests in K-Nex Corporation, Co., Ltd., retailer of industrial laundry and dryer machines as well as convenience laundry business, under the “Otteri Wash & Dry” brand, which currently operates 670 branches, with the aim of expanding both within and outside of PTT stations, creating solutions catering to every lifestyle.
Ms. Jiraphon Kawswat, President & Chief Executive Officer, PTT Oil and Retail Business Public Company Limited (OR), presided over the signing ceremony for purchasing stocks and the stockholders contract between Modulus Venture, Co., Ltd., a subsidiary under OR, and K–Nex Corporation, Co., Ltd. (KNX), retailer of industrial laundry and dryer machines as well as convenience laundry business under the “Otteri Wash & Dry” brand, by investing a 40% in the company’s shares, amounting to approximately 1,105 million baht. Also in attendance were Somyot Kongprawet, Senior Executive Vice President, Non–Oil Retail Business, OR, Kavin Nitasnajarukul – Chief Executive Officer, Otteri Wash & Dry, and Prissadawan Nitasnajarukul – Chief Business Development Director, K–Nex Corporation Co., Ltd.
Ms. Jiraphon stated that the cooperation between OR and K-Nex Corporation, Co., Ltd. which retails industrial laundry and dryer machines as well as operates a convenience laundry self-service business under the “Otteri Wash & Dry”, which is the number one brand in the industry, is one of the strategies of OR in accordance with providing solutions catering to the various lifestyles of consumers (All Lifestyles), so that OR can be a part of consumer’s everyday life for all ages and genders, as well as create business diversity for the over 2,000 PTT service stations in operation. In addition, this provides an opportunity for business growth for both OR and K-Nex Corporation, both domestically and abroad, as well as falls in line with OR’s business strategy of Outside-In Growth, by seeking investment opportunities in new markets together with partners to offer solutions to consumers looking for more holistic products and services, while also providing opportunities for business growth alongside OR.
Apart from this, both OR and K-Nex Corporation share a common objective in creating opportunities for disadvantaged groups in society, which is in line with OR’s vision of “Empowering All Toward Inclusive Growth”. Examples include the employment of senior citizens and the underprivileged to work under OR’s Café Amazon for Chance scheme, and K-Nex Corporations’s project to employ senior citizens to fold clothes for customers of Otteri Wash & Dry, as well as collaboration with the Mirror Foundation in organizing laundry service activities and free baths for the homeless.
Mr. Kavin states that the cooperation between K-Nex Corporation and OR is to “translate OR’s vision into reality”, that is, to provide opportunities for Thai SMEs that have readiness, potential, and a firm commitment to develop their organization to grow together. OR’s investment is complementary, opening the door for creativity and new opportunities for both companies, as K-Nex plans to expand its laundromat branches to various locations of OR, both within and outside of PTT stations, so that people can have access to laundry services that meet international standards at affordable prices. It also has plans to expand its business abroad in future.
Otteri Wash & Dry is a laundromat that not only provides laundry services, but also follows the corporation’s vision of “Creating Healthy Lifestyle Community” for society, starting from wearing clean clothes. Apart from doing business, the company aims to contribute to society, create opportunities, and alleviate inequality.
