CrowdOut Capital along with New and Existing Equity Funds Provide Debt & Equity for Growth
MARINA DEL REY, Calif., July 11, 2024 -- The Bouqs Co. ("Bouqs"), a leading disruptor in direct-to-consumer ("DTC") floral delivery, today announced it has launched three shop-in-shops inside Whole Foods Market throughout California. With the tailwinds of Mother's Day, the largest floral holiday, the first shop was opened in Orange County followed by La Jolla and San Francisco. Prior to these openings, the Company launched its first retail store on Robertson Boulevard in Los Angeles, along with pop-up shops and same-day delivery in Manhattan, Miami and Chicago.
To fund retail growth and other new initiatives, Bouqs secured more than $23 million in debt and equity. CrowdOut Capital ("CrowdOut") provided the debt with existing and new investors participating in the equity raise.
Bouqs continues to change the landscape of the floral industry through their direct-shipment model, sending flowers to customers direct from farms around the world. With a growing e-commerce business and a thriving subscription model shipping hundreds of thousands of orders annually, the Company has begun their next phase of growth in retail. The shops at Whole Foods Market provide convenience for local customers, nimble delivery for the immediate area and build on the strength of Bouqs' loyal customer base.
"When Bouqs launched nearly 12 years ago, we set out to disrupt the online flower category by bridging the customers' expectations for a fresh, quality product with flowers that are grown by ethical and eco-conscious farmers from around the globe," said Kim Tobman, CEO. "Whole Foods Market is a perfect partner for Bouqs as we expand our physical footprint and offer customers an even more robust experience. We are excited about this new shop format and are equally enthusiastic to have a new partner in CrowdOut who believes in our mission and this next phase in our journey."
"We are excited to be partnering with Kim, Bouqs' Co-Founders John Tabis / Juan Pablo Montúfar and their entire team," stated Alexander Schoenbaum, Partner and Co-Founder of CrowdOut. "I love how the Company has been able to create such a close connection between the farmer and customer. Bouqs is restoring a connection that has long since been lost—it is truly a farm-to-table floral and plant provider!"
Bouqs continues to offer one-of-a-kind, flexible subscriptions to its customers as well as farm-fresh, seasonal assortments. Bouqs also services weddings, events and corporate floral needs through its stores and website.
About The Bouqs Company
Bouqs is a leading DTC floral retailer delivering long-lasting, fresh flowers to doorsteps across the US. Founded in 2012 and headquartered in Marina del Rey, the Company has radically disrupted the $100 billion global floral industry through responsibly sourced flowers and a vertically integrated supply chain driven by proprietary data and technology, allowing them to connect farms directly to consumers. This model enables a superior product and redefines the experience and economics for consumers and producers alike. Building upon the success of the DTC model, Bouqs has built a robust subscription service, launched its first US brick-and-mortar store and expanded into the wedding space with pre-arranged and DIY options, making it easier for couples to shop affordable flowers without sacrificing quality. For more information, visit www.bouqs.com and follow the #BouqLove on Facebook, Instagram and TikTok.
About CrowdOut Capital
CrowdOut is a leading private investor to lower to middle-market companies. CrowdOut's network of experienced owner-operators and industry veterans provides exclusive deal opportunities and key insights during underwriting and due diligence. In addition to getting access to needed capital, companies benefit from the industry expertise of CrowdOut's connected network of investors. Select family offices, institutional and accredited investors invest with CrowdOut through its dedicated funds and targeted co-investment opportunities. CrowdOut has originated more than $800 million of opportunities since its inception. For more information, visit www.CrowdOut.com and follow @CrowdOut on LinkedIn.
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