Bloom & Wild swung to a loss after customers stopped splashing out on flowers due to the cost of living crisis.
The company – which sends bouquets in boxes that can fit through a letter box – saw its turnover tumble by more than a fifth to £83 million in the year to April 2023.
Losses of around £800,000 were recorded compared with a profit of £2.3 million in 2022, according to the firm’s latest accounts.
Bloom & Wild received a huge boost during the pandemic when shopping for gifts in person was not allowed, but sales have fallen since.
Many of the company’s bouquets cost more than £30, but it has introduced cheaper versions.
Struggle: Co-founder and boss Aron Gelbard (pictured) said that the second half of 2023 had been much better as it has reined in spending on areas including marketing
Bloom & Wild also sells other items that can be sent through the post, including brownies, chocolates, biscuits and candles.
The company has expanded in recent years and now sells under the Bloom & Wild brand in the UK, Germany, the Netherlands and Ireland. The business owns two other firms in Europe, which have yet to report their results.
Co-founder and boss Aron Gelbard told The Mail on Sunday that the second half of the year had been much better as it has reined in spending on areas including marketing.
Gelbard, 41, a former management consultant, set up Bloom & Wild in 2013 with fellow entrepreneur Ben Stanway.
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