May 23, 2022

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Colvin's flowers keep rolling in and buying their Italian rival

Colvin’s flowers keep rolling in and buying their Italian rival

Colvin’s flowers keep expanding To deal with the Dutch Empire. After a $45 million funding round in mid-2021, the start-up has begun purchases to expand its business into international markets. It started in France with Monsieur Maguerite at the beginning of 2022, and now it is expanding its activity with another of the most interesting regions of the continent: Italia. The Spaniards took over business bloating. Or what is the same, its Milan counterpart that has been in operation since 2016.

It’s an extended strategy that Colvin has been working on for some time. Because the startup is not new to the Italian market. Indeed, Its second market in operations after Spain. But they can still grow even more. As they did in France, the acquisition – for an undisclosed amount – of a competitor is one of the fastest ways to increase the business portfolio. Even more so with the funding that Colvin raised a year ago.

On the other hand, Italy is for Colvin more than just his second market of operations. It is one of the most internationally active companies in the field of flower procurement. Together with the Netherlands, with the strongest central market at the international level, and France, it is the most active region. Perhaps with a nuance different from the Gaelic country: acceptance of global brands. already with Buy Mr. MageriteColvin faced one of the French consumer’s biggest demands: a preference for a national product. It is for this reason that they maintain the original business model: only local (French) producers with seasonal products and keep the brand unchanged. Bloovery, for its part, is opening its hand to a more international sector and fully joining the Spanish brand.

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B2B Business, Colvin’s Highest Profitability

Colvin has thrown himself into acquisitions to dominate a European market that moves volumes of €14 million annually. One of his decisions at the beginning of the year, according to what he said hypertextIt was at the moment Abandon the business of financing rounds and open business lines; They prefer to focus on what they already have. Therefore, it has focused on acquisitions – achieved with the latter in Italy – and on the division that has been growing more for some time: working with professionals.

In addition to selling flowers and bouquets to clients, a business he primarily started with, Colvin saw a goldmine in digitizing a very traditional sector. Submit a Program Manage orders and sales for traditional florists It was he who generated the most attraction. As Colvin explained to this medium, although the flower-selling business has some differences between countries, all businesses, wherever they are, suffer from the same problems. Relationship with suppliers, producers and intermediaries. The arrival of Colvin’s B2B model indicated a more scalable business model.

Through Bloovery in Italy, they also encounter this business model. “We are very excited to be joining the Colvin family. By combining his international experience with that of Bloovery B2B, we have the opportunity to make our mark in the floral industry,” explains Michelle Dondy, co-founder and COO of Bloovery, in a statement.