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  • 11-06-23

    Floranow Expands Presence in Saudi Arabia with Second Acquisition

    (MENAFN) As Saudi Arabia continues to attract the attention of entrepreneurs across the region, businesses from various sectors in the Middle East are actively exploring the emerging opportunities in the Kingdom. UAE-based online floral marketplace, Floranow, is leaving no stone unturned in its expansion into Saudi Arabia, recently finalizing its second acquisition in the market.

    On June 5, Floranow announced the acquisition of Bloomax, one of the largest wholesale distributors of fresh-cut flowers in the Kingdom. This comes one year after Floranow's acquisition of Astra Farms, a floral distribution company based in Saudi Arabia. The move reflects Floranow's commitment to establishing a strong presence in the Saudi market.

    In an interview with Arab News, Charif Mzayek, the CEO and founder of Floranow, emphasized that the company's focus on the Saudi market is driven by the remarkably high transaction rates it has observed. Mzayek highlighted the significance of the company's mobile application, which is exclusively available in the Saudi market and generates over 80 percent of Floranow's online transactions.

    "The acquisition of Bloomax follows our successful acquisition of Astra Farms' floral distribution business early last year," Mzayek explained during the interview with Arab News. These strategic acquisitions are part of Floranow's broader strategy to capitalize on the growing demand for floral products and services in Saudi Arabia.

    Floranow's expansion into Saudi Arabia aligns with the company's vision to tap into the Kingdom's thriving market potential. With the acquisition of Bloomax, Floranow aims to further enhance its supply chain capabilities and strengthen its position as a leading provider of fresh-cut flowers in the region.

    The company's success in the Saudi market can be attributed to its commitment to delivering high-quality products, leveraging technology-driven solutions, and meeting the evolving demands of customers. By strategically acquiring established players in the Saudi floral industry, Floranow is well-positioned to cater to the growing needs of both consumers and businesses in the Kingdom.

    Floranow's expansion efforts in Saudi Arabia underscore the country's attractiveness as a lucrative market for businesses across various sectors. With a robust digital infrastructure and a thriving entrepreneurial ecosystem, Saudi Arabia presents promising growth opportunities for companies looking to establish a strong foothold in the region.

    As Floranow continues to solidify its presence in the Saudi market through strategic acquisitions and leveraging its innovative technology platform, the company is poised to play a significant role in shaping the future of the floral industry in the Kingdom.

    MENAFN11062023000045014228ID1106422210

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