R.T. Capital Fund of Teleclal Group (BUYME's owner) and Channel 13 has announced its first investment in VAZA, a dedicated platform for ordering bouquets of flowers and by doing so it is creating a competitive alternative to ZER4U in Israel's growing flower bouquets markets. The new platform will be operated by gift platform BUYME. <>.BUYME, Israel's leading gifts brand and digital experiencee continues to expand its activities with the launching of
The deal is being led for Channel 13 by its Deputy CEO and VP Business Development Eran Hochman and Roy Eliyahu, a second generation flower grower from Moshav Kfar Ruth. He is the owner and founder of Ral Technologies, which specializes in building and promoting websites for flowers and supports 80 selected flower stores throughout Israel.
VAZA's platform has two strengths. For the buyer, the platform will create the broadest range of bouquets of flowers from logistics centers that VAZA has set up as well as from dozens of flower stores in a range of good value prices for all customers. For the flower stores, BUYME's large number of regular customers will make it easier for sellers on the platform to reach a significant market share quickly.
BUYME works with over 1,200 businesses in Israel, and over 5,000 companies and organizations in the Israeli economy use its services - a precious distribution asset for small businesses such as flower stores.
Stores will be able to start from scratch or significantly increase their online activities and increase their revenue stream. At present 30 stores around the country are signed up and in the coming months the platform is expected to gradually recruit more boutique flower stores. BUYME plans to target a total of 50 stores over the coming months.
VAZA's platform can also help farmers throughout Israel market their produce to a bigger range of customers and benefit the entire agricultural sector in Israel - and specifically the flower sector - which has been struggling since the start of the Covid pandemic.
Orders placed on the VAZA website are accepted and transferred for handling by logistics centers or the nearest store in the region of the planned delivery. The aim is to create a uniform high standard for all the flower stores on the platform and VAZA will bear responsibility for the freshness and quality of the flowers and customer satisfaction.
On the VAZA website is a catalogue of about 100 flower bouquets, plants and supporting culinary gifts such as: chocolate from the De Karina Chocolate Boutique Factor, and selected quality wines specially chosen by Israeli connoisseur Ronen Arditi.
The collaboration between BUYME and Roi Eliyahu was formed in order to expand activities into an area in which it previously had no foothold: the flowers market. According to a survey last May by the Ministry of Agriculture and Rural Development, the domestic Israeli market consumes the entire range of flowers in the world, and so all types of flowers are grown here. Israel currently has about 350 flower growers.
According to the latest survey, the size of the market is estimated at about 400 million flowers per year, worth about NIS 320 million.
The launch of VAZA is part of BUYME's strategy to expand activities. Last year the company set up joint activities with startup company well-b, which has developed a data-based platform for individually adapting experiences for organizational happiness. The company also acquired the startup Meetinkz, on which spaces can be rented for meetings and events in leading cities in Israel and worldwide.
BUYME chairman and Teleclal Group owner and CEO Yoav Ben Yakar: "As part of cooperation with Channel 13 to invest in Israeli companies, we are delighted with the opportunity that has been handed to us to continue to increase the added value that BUYME offers customers. Exapnding activities to the flowers market adds an important dimension to the position of the company as a leader in Israel's gifts market."
BUYME is the largest gift and experience platform in Israel. The company allows gifts and experiences to be sent digitally and personally directly to the mobile telephone or email of the recipient. The company works with more than 1,200 businesses in Israel and its services are used by over 5,000 companies and organizations in the Israeli economy, which through BUYME purchase gifts for their employees - mainly gifts for the holidays as well as birthday gifts and gifts to express appreciation, seniority, and more. Each year about one million employees in Israel receive gifts and experiences through the company's platform. The company is based in offices in Tel Aviv and has about 80 employees.
Published by Globes, Israel business news - en.globes.co.il - on October 17, 2021
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