British flower delivery startup Bloom & Wild Plucks French Rival
Bloom & Wild has recruited French rival Bergamotte to cement its lead as one of Europe’s biggest online flower delivery companies. The deal will help the UK startup’s expansion into Europe, with the combined business aiming to ship 11 million bouquets this year, and help it grow in the booming factory delivery market.
Bloom & Wild, which raised $41m (£30m) and $27m (£20m) in debt, to fund the deal, and the acquisition of Dutch online florist Bloomon in April. The deal with Paris-based company Bergamotte will quadruple sales in France and total turnover is now expected to top $277m (£200m) this year, says Bloom & Wild founder and chief executive Aron Gelbard.
Closures that shut down physical florists and prevented people from getting together to celebrate birthdays and special occasions have helped online florists flourish, with Gelbard reporting that sales are up 100% in 2020. “It changed everything. the nature of flower gifts, because it’s done it’s less of a grand gesture than an everyday gift. During lockdowns, when people couldn’t see their loved ones, flowers became something of a substitute for a hug. »
Bloom & Wild, famous for its packaged bouquets that can be mailed to a letterbox, was founded in 2013 and now operates in France, Germany and Ireland. The London-based company raised $102 million (£75m) in a Serie D round in January.
Gelbard said picking its French and Dutch rivals would help Bloom & Wild grow its flower subscription and houseplant delivery service. “Bergamot has leaned heavily into plants, which are a fast growing part of the $30,721,130,000 (£22bn) plant and flower market in Europe,” says Gelbard. “We’re also incorporating Bloomon’s learnings from what they’ve found works well for subscriptions.”
Gelbard does not intend to fight with industry giants FTD and 1-800-Flowers, which dominate online flower delivery in the United States. “The market size in Europe is huge and we are the market leader with only 1% market share, so there is a lot to grow with these acquisitions and we aim to become market leaders in more countries in Europe. “, says Gelbard. .
Bloom & Wild’s decision to buy out its European rivals comes amid a fundraising boom for online florists with the two UK rivals Freddie’s Flowers raises $60 million (£42,963,000), and Colvin Spanish Online Florist raising $53 million (€45 million) this week to expand outside of their home markets.