Freddie’s Flowers, the UK-based flower subscription business, has trimmed its workforce by 26% after facing another revenue decline. The move comes as the company pivots from aggressive expansion to profitability amid tough market conditions.
Flower Business Shifts Focus to Profitability
Freddie’s Flowers revealed its strategy shift after filing accounts showing an 8.2% revenue drop to £35.7m for the year ending August 2024. The business, once riding high on pandemic-fuelled demand, has refocused on financial stability as shopping habits normalise.
Pre-tax losses shrank from £2m to just under £1m, hinting at some progress. The company now employs just over 200 staff, down from 271 last year — nearly a 60% reduction from its 2022 peak.
In a statement, the company said, “Our aim was to break even while continuing to invest in growth initiatives.” Despite the challenges, Freddie’s Flowers remains optimistic about future growth while keeping a sharp eye on profitability.
Pandemic Bloom Fades as Sales Decline
Freddie’s Flowers bloomed during the pandemic when people craved home comforts. However, the demand withered as restrictions eased, forcing the company to rethink its game plan.
Founder Freddie Garland, who launched the business from his parents’ back garden, had once envisioned global expansion. The firm entered the US and European markets but has since scaled back operations to focus on the UK and Germany.
The company also grabbed headlines in 2020 with its quirky ‘flower bonds,’ offering returns in cash or flower deliveries. The scheme helped raise millions but has since matured.
Despite the setbacks, Freddie’s Flowers is determined to stay in the game. With a tighter ship and a clear profitability focus, it hopes to blossom once again in the competitive floral industry.
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