The News Scroll 03 December 2017  Last Updated at 11:51 am | Source: PTI

Interflora eyes Rs 200 crore turnover by FY21

Interflora eyes Rs 200 crore turnover by FY21
outlookindia.com
1970-01-01T05:30:00+0530

New Delhi, Dec 3 (PTI) Flower delivery service network Interflora India is eyeing Rs 200 crore turnover by fiscal 2021 as it plans to expand its presence in top 15 cities across the country.

Interflora, which launched operation in India in October this year through a licence agreement with gifting firm IGP, plans to open 100 stores across top 10 cities by the end of 2018.

"We are targeting to delivering revenue of Rs 200 crore by year 2020-21. Over the next 12 months, we would capture market in top 10 cities, which accounts for 80 per cent of flower deliveries," Interflora India President and CEO Tarun Joshi told PTI.

"Over the next three years, we will have presence in top 15 cities in India and we will focus on them to drive sales," he added.

The company is looking at operations in cities such as Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad and Pune in the next 12 months.

Joshi said he is also in talks with investors to raise USD 10 million by end of this fiscal.

"We are looking at investing about USD 10 million in the 12 months period to expand our operations. This investment will go in setting up offline stores, flower factories and cold chain network to maintain quality promised by Interflora," he added.


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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