Right Florist to expand India network

Written by Commodities Bureau | Kolkata, Oct 22 | Updated: Oct 23 2008, 05:52am hrs
Indian flower major Right Florist is planning to expand its reach as the market in the country is growing at a good pace of around 20%.

We are adding two-three agents each month across India, said chief operating officer, Siddhartha Somani. The company has 39 franchisees and owns two shops.

Around 90% of our revenue comes from international operations, but we are planning to change the mix. We are looking at 25% of earnings from our Indian operations, Somani said.

According to him, the organised sector has a mere 5% share in the Rs 1,000-crore flower market in India.

This leaves us with a big space to grow. Moreover, high-net-worth individuals and corporate clients are getting increasingly interested in flowers as corporate gifts.

A Bangalore variety of Dutch rose costs around Rs 10 a flower, while imported flowers such as King Protea can come for as much as Rs 400 a piece.

With the increase in people's interest in flowers and enhanced buying capacity, a single piece could cost as much as Rs 500, Somani said.

Right Florist is tapping companies and high-net-worth individuals as it is eyeing the corporate gifts segment. It also deals in other gift items, such as cakes, soft toys, chocolates, sweets and dried fruits.

The company has a market in countries like the US, the UK, Japan and Australia, and is looking at entering Switzerland, Belgium, the Netherlands, Portugal and Chile. We also import exotic flowers such as Protea and Pin Cushion from countries like Australia, Holland and Thailand, Somani said.