The Bouqs is an online flower delivery business that has become a famous shop in the US. It has left behind many of its competitors and is taking over the market. Moreover, it has raised the most significant amount by any flower delivery company to date. It raised $30 million from the well-known company Yamasa for expanding its business in Japan.
Japan shows a huge promise in the floral business. And that’s why the Bouqs think they can expand their market here and gain a considerable profit from it. The Bouqs has an international plan for quite some time, and their CEO John Tabis says that Japan is the perfect place to start its international foray.
Tabis informed that many of the similar brands tried to go international but weren’t successful at it. However, the Bouqs operate in a different way, similar to the Hong Kong florist. He said that what they do is they source from unique and regional farms, which makes them more successful. This way, they eliminate the middlemen and keep the business between them and the farms. That keeps the flower blooms alive longer than what other sellers offer.
With the new revenue, the company will focus on a new feature called subscribe. And this feature will help customers renew their flowers after the old ones have died out.
The investment from Yamasa will take the investment to an all-time high of $76. It is higher than any of its peers like Urban stems and Bloomthat, who raised $27 and $7.7, respectively.
Tabis shared his excitement about the company going global with the investment from Yamasa. It will surely take the company to new heights.