Freddie’s Flowers’ pandemic boom leads to 81% increase in revenue over past financial year, its most recent results reveal
Freddie’s Flowers’ pandemic boom led to an 81 per cent increase in revenue over the past financial year, its most recent results reveal.
Turnover at the flower delivery company rose from £26.4m to £47.8m for the year ending last August, although losses also mounted.
Rapid growth plans and led to losses surging from £333,537 to £4.5m in 2021, while its average number of employees rose from 96 to 225.
Blooming: Freddie Garland founded the London-based company in 2014 aged 26 after quitting his job at organic food outfit Abel & Cole
Freddie’s Flowers’ success throughout Covid-19 led to expansion into Germany in October 2020.
Its first non-UK operation contributed £4.5m to the company’s revenue last year and delivery services are also now heading to the Netherlands.
The company’s business model is built on a weekly subscription for fresh bouquets that buyers self-assemble for £25. Its target market is affluent Britons aged 30-plus.
The latest report shows that Freddie’s Flowers’ most recent cash reserves were up from £1.6m to £28.4m. Freddie Garland founded the London-based company in 2014 aged 26 after quitting his job at organic food outfit Abel & Cole.