P&G Doubles its Tide Store Business

Cincinnati-based consumer goods company Procter & Gamble will double the amount of its Tide laundry stores by the end of 2020, aiming to expand its reach to more than 2000 locations.

The 24-hour stores house drop-off boxes where people can leave their laundry for cleaning and can track the progress via the Tide Cleaners app, reports CNBC. The company has focused the business near apartment buildings and college campuses, where customers are less likely to have laundry appliances. According to P&G, roughly 26 million American households outsource their laundry.

"For many people, the closest laundry room is 20 floors down or 10 blocks down the street," said Sundar Raman, VP of P&G's North American fabric care business, in an online statement. "Our goal with Tide Cleaners is to help people's increasingly busy lives revolve more around what matters, and less around their laundry."