It also illustrates a growing trend in Europe. External growth is not only for big established companies or American startups: European startups are increasingly becoming consolidators of their markets, in order to build global champions. Bloom & Wild raised 120M€ this year to do so (and a total of 150M€ since 2013).
As investors, we are proud to see Bergamotte taking part in the consolidation of the online flower and plant business at the European level. With Bergamotte, Bloom & Wild is already expecting revenues above 200M€ this year. And that’s just a start!
For Bergamotte’s team, this is a great acknowledgement of their achievements in a challenging market. In a few years, they mastered on-demand production and delivery of high-quality flower bouquets, while delivering a game-changing user experience, both in France and in Germany.
Over the years, Bergamotte also successfully built a high-end D2C brand in two countries, by creating a unique emotional bond with its customers (both the buyers and the person who receives the flowers), thanks to a trendy positioning, smart growth-hacking techniques, above-average user experience and meaningful brand partnerships. This success has been recognised: the brand will be kept alongside Bloom&Wild and bloomon.
Bergamotte’s team also innovated constantly, either in the back office or in products – take for instance their foray into the plant business, a growing segment in the wake of the pandemic. As a result, both companies’ products and expertise will be complementary: Bergamotte is a specialist in flower bouquets and plants, whereas Bloom & Wild focuses on “Letterbox Flowers”: bouquets that fits in the letterbox in order to be assembled at home by the client.
Last but not least, Bergamotte was able to evolve quickly to meet the customers’ demand for more sustainably-sourced products. Not so surprisingly, impact and sustainability are also core concerns at Bloom & Wild: the company is working hard on its supply chain to reduce its impact, by improving its sourcing, transportation, warehousing, delivery and packaging.
By joining Bloom & Wild, which is already operating in eight European countries, Bergamotte will benefit from even stronger operational resources and technologies, as well as powerful sourcing capabilities. That will be quite a powerful tool to progress towards a greener and better flower market in Europe!