E-commerce gifting firm FlowerAura is expecting revenue of Rs 300 crore by FY2021. Established in 2010, it is also in talks to raise $15 million to scale up its operations across the country and deliver personalised gifting experiences to its customers.
The company founded by Himanshu Chawla and Shrey Sehgal currently encompass 22 fulfillment centers in eight cities across India, including Delhi NCR.
Himanshu Chawla, Director, FlowerAura, said, "We are aiming to grow six fold growth in the present numbers by the end of 2021, in terms of the number of orders. This year, we have planned to open 15 more fulfillment centers across India under our expansion plans for the FY 19-20. We are also working to expand in new categories of personalized gifts, plants, cakes, and premium customizable gifting options to make every occasion special for their customers."
The Indian gifting market categorized in festival gifting, personal gifting, and corporate gifting possesses a huge potential for market players. The total size of the Indian corporate and personal gifting market has crossed Rs 250,000 crore in 2017, as per a study by Technopak management consultants.
Out of which, corporate gifting alone is estimated to be Rs 12,000 Cr with growing at a rate of 200 per cent per annum. FlowerAura with a wide assortment of freshly handpicked flowers & bouquets, Delicious Cakes, Handmade Chocolates, and Heart-warming Gifts caters to all 3 categories of gifting in the Indian market.
Affluent lifestyle and recent buying needs of the aspirants have resulted in a massive shift in consumer behavior in recent years. The new financially strong consumers from the urban middle-class category with higher per capita income are moving from traditional gifting options like edibles and greeting cards towards unique and unconventional customized gifting ideas, which further transform a gift into a symbol or token of a personal bond.
In fact, there has been a noticeable increase in the number of male customers on online gifting portals in recent time. This is signifying an emotional change in male behavior, where they are opening up and expressing their feelings with gifts. In fact, the number of people looking for customized gifts with personalized messages has almost tripled in the last 3 years. FlowerAura is offering more thoughtful & emotion-filled customized/personalized gifts with the same-day delivery option, which help aspirational customers to go beyond flowers and cakes.