Petals is planning
to expand its operation in overseas markets of
Indonesia in the next two years, according
to a top company official.
The company, which is aiming
to be a Rs 1,000 crore company by FY2022-23, is quite bullish on the online segment. It has launched new services and is investing up
to Rs 30 crore on technology in the next 18 months
to tap opportunity in the e-commerce segment in the post-COVID era.
“We will be expanding in
Indonesia. By the end of FY2022-23, we will be a Rs 1,000 crore company, with presence in five countries other than India,”
Petals CEO Retail & Online – India, UAE & Singapore Pawan Gadia told PTI.
Petals, a 27-year-old company, has presence in foreign markets like the UAE and Singapore.
“In the UAE we are number two player and Singapore number four-player and we plan
to be the leading player in one or two years,” he said adding “In the end of next two years, we would have presence in five countries.”
Petals operates in three verticals here — wedding halls and banquets, retail shop of flower and cakes and online business.
The company had a turnover of around Rs 500 crore in FY2019-20. However, it expects a hit of around 15-20 per cent in its top line due
to lockdown disruptions in the market.
“In Q1 our banquet business was zero, the retail business was down
to 30 per cent of what was last year. However, our online business has grown about 25 per cent,” he said adding that the company expects
to continue its growth momentum in online sales going forward.
Going forward, the company expects normalcy in its wedding business as the government had permitted gathering with limited people under Unlock 3.0 and retail business of flowers and cake
to be subdued in coming quarters.
“We expect online business
to grow by 35 per cent this year,” he said.
Post-Covid, the company has witnessed an increase in its e-commerce business and has also started digital gifting.
“When COVID-19 hit the market, we started the digital gifting business. We have speciality
to adapt and change,” he said, adding
Petals is investing heavily in technology and will put Rs 25
to 30 crore in technology in the next 18 months.
In its digital gift portfolio,
Petals has introduced several services which includes Celebrity Video Message, Violinist on Call, Fitness on Call and Poet on Call.
“We are known as flower brand, however, in this Rakhi season, for example, we would be doing around six
to seven lakh deliveries of rakhi at doorsteps in the country and around two lakhs in the other parts of the world,” he said adding that it could also be Rakhi coupled with gifts as chocolates, dry fruits, sweets, plants etc.
In the online business,
Petals gets 40 per cent turnover from cakes, 30-35 per cent from flowers and 10 per cent from personalised category.
“We get 2,000 orders per day for personalised category,” Gadia said.