Yahoo Finance 1-800-FLOWERS.COM, Inc. Acquires SmartGift, Inc.
Acquisition Expands Corporate Gifting Capabilities and Engagement Solutions
JERICHO, N.Y., May 2, 2023 /PRNewswire/ -- 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships, announced it has acquired SmartGift, Inc. SmartGift, Inc., an intelligent gifting platform, enables brands and corporations to engage consumers, employees, and prospects by providing a premium digital gifting experience in a unified platform. The SmartGift platform provides innovative, thoughtful, and convenient gift-sending and receiving experiences designed to establish complex corporate gift solutions for business partners. It allows users to send, track, and manage gifts and recognition campaigns for employees and clients quickly and efficiently. The acquisition of SmartGift, Inc. continues to expand the company's best-in-class consumer and corporate gifting capabilities and offerings to its customer community.
"Personal and professional relationships are fortified through meaningful gestures," said Chris McCann, CEO, 1-800-FLOWERS.COM, Inc. "With the addition of SmartGift, Inc. to the 1-800-FLOWERS.COM, Inc. portfolio, we are continuing to expand and innovate our gifting capabilities, offering more ways to build meaningful relationships, celebrate important milestones, and create even more business impact, all through the power of gifting."
SmartGift, Inc. will provide 1-800-FLOWERS.COM, Inc. a customized gifting solution for all kinds of gifting experiences including retail, entertainment, corporate, and more through its innovative engagement and rewards platform and features. SmartGift, Inc.'s intelligent features will help companies achieve growth and retain clients and employees, driving more pipeline and revenue at each touchpoint while advancing abilities to control, execute, and measure business impact. With this data, organizations can gain valuable insights into their engagement efforts and strategic planning.
The SmartGift, Inc. functionality, paired with the 1-800-FLOWERS.COM, Inc. family of brands, helps organizations of all sizes create and maintain meaningful connections with associates, customers, and individuals important to them and their business.
Bernd Strenitz, Founder and CEO, SmartGift, Inc., will join 1-800-FLOWERS.COM, Inc. as Vice President, SmartGift. Strenitz said, "I am delighted that SmartGift, Inc. is now part of the 1-800-FLOWERS.COM, Inc. family of brands. The teams at 1-800-FLOWERS.COM, Inc. and SmartGift, Inc. have been co-developing through a close and strong partnership for some time. There is much opportunity ahead to further simplify the gifting journey through the deployment of emerging technologies that enable the seamless selection and sending of the right gifts."
Monika Kochhar, Founder, SmartGift, Inc., said, "We have been providing enterprises, their customers, and employees a seamless and smart experience to celebrate people at the right moment with the right gift and the right message. Our close collaboration with 1-800-FLOWERS.COM, Inc. has brought to market the best-in-class capabilities for companies to engage their communities and spread positive culture."
Venable LLP served as legal counsel to 1-800-FLOWERS.COM, Inc. on the acquisition of SmartGift, Inc. Meister Seelig & Fein PLLC served as legal counsel to SmartGift, Inc.
About 1-800-FLOWERS.COM, Inc.
1-800-FLOWERS.COM, Inc. is a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships. The Company's e-commerce business platform features an all-star family of brands, including: 1-800-Flowers.com®, 1-800-Baskets.com®, Cheryl's Cookies®, Harry & David®, PersonalizationMall.com®, Shari's Berries®, FruitBouquets.com®, Things Remembered®, Moose Munch®, The Popcorn Factory®, Wolferman's Bakery®, Vital Choice®, Stock Yards® and Simply Chocolate®. Through the Celebrations Passport® loyalty program, which provides members with free standard shipping and no service charge across our portfolio of brands, 1-800-FLOWERS.COM, Inc. strives to deepen relationships with customers. The Company also operates BloomNet®, an international floral and gift industry service provider offering a broad-range of products and services designed to help members grow their businesses profitably; Napco℠, a resource for floral gifts and seasonal décor; DesignPac Gifts, LLC, a manufacturer of gift baskets and towers. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS. For more information, visit 1800flowersinc.com or follow @1800FLOWERSInc on Twitter.
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Special Note Regarding Forward Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events and can generally be identified using statements that include words such as "estimate," "expects," "project," "believe," "anticipate," "intend," "plan," "foresee," "forecast," "likely," "will," "target" or similar words or phrases. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company's control, which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, statements regarding the Company's ability to achieve its guidance for the full Fiscal year; the impact of the Covid-19 pandemic on the Company; its ability to leverage its operating platform and reduce its operating expense ratio; its ability to sell through existing inventories; its ability to successfully integrate acquired businesses and assets; its ability to successfully execute its strategic initiatives; its ability to cost effectively acquire and retain customers; the outcome of contingencies, including legal proceedings in the normal course of business; its ability to compete against existing and new competitors; its ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; its ability to reduce promotional activities and achieve more efficient marketing programs; and general consumer sentiment and industry and economic conditions that may affect levels of discretionary customer purchases of the Company's products. The Company undertakes no obligation to publicly update any of the forward-looking statements, whether because of new information, future events or otherwise, made in this release or in any of its SEC filings. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. For a more detailed description of these and other risk factors, refer to the Company's SEC filings, including the Company's Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q.
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SOURCE 1-800-FLOWERS.COM, Inc.
