The Bouqs, an online floral retailer, has secured $30 million in funding to grow the company and potentially move to brick-and-mortar retail. The funding was granted by Japanese investor, Yamasa. This puts the company’s total funding at $74 million, which is well ahead of some of their competitors.
The company started back in 2012 by Chief Executive Officer John Tabis. Since then, The Bouqs has delivered more than 62 million stems sourced from 140 farms. Tabis also noted that the brand generated a one-day total sales of $6 million just on Feb. 13.
The floral retailer prides themselves on sustainability and storytelling. They use sustainable farming to ship the florals directly to the consumer, instead of using a middleman. This ensures that the customer gets the freshest possible delivery and knows exactly where the flowers came from.
With the brand’s recent success and $30 million deal, it’s no question why they are eyeing a preliminary dip into the brick-and-mortar sector. Tabis said The Bouqs will likely start small with just two brick-and-mortar properties, which may be part of a larger retail outlet.
At the start of the e-commerce company, opening a store was not on the horizon, stated Tabis. However, he realizes as a business owner he needs to constantly keep an open mind.
“Even after you scale, business doesn’t stay static. Competition changes, you as a founder change, all those things are constantly moving,” Tabis said.
Source: The Bouqs Expands Funding
Photo Credit: The Bouqs
About The Bouqs Company
The Bouqs Company is an online floral retailer that delivers flowers fresh from eco-friendly, sustainable farms to doorsteps, nationwide. Founded in 2012, The Bouqs Company was formed to radically disrupt the $100B global floral industry through a modern brand, responsibly-sourced flowers and a vertically-integrated supply chain. Headquartered in Marina del Rey, California, the company connects farms and a curated network of artisan florists directly to consumers, and disrupts the traditional supply chain by eliminating substantial overhead costs. In turn, this model enables a superior product and redefines the experience and economics for both consumers and producers alike. For more information, visit www.bouqs.com and follow the #BouqLove on Facebook, Instagram and Twitter.