Florists' Transworld Delivery

Last updated

Flowers

FTD LLC
Company type Private
Industry Floral industry
Founded1910
Headquarters
Downers Grove, Illinois
,
U.S.
Key people
Peter Sauerborn
Owner Nexus Capital Management
Subsidiaries
Website www.ftdcompanies.com , www.ftd.com
Footnotes /references
[1]

FTD LLC [2] (FTD), also known as Florists' Transworld Delivery, is a floral wire service, retailer, and wholesaler based in Downers Grove, Illinois, in the United States. FTD was founded as Florists' Telegraph Delivery in 1910, to help customers send flowers remotely on the same day by using florists in the FTD network who are near the intended recipient. It was based in Detroit, Michigan and then moved to Southfield, Michigan prior to its move to Downers Grove. It originated as a retailers' cooperative and began a process of demutualization in 1994. It operates two main businesses: The Consumer Business sells flowers and gift items through its websites and The Floral Business sells computer services, software and even fresh cut flowers to FTD and Interflora affiliated florists.

Contents

Retail Florist Association (formerly Extra Touch Florist Association and FTD Association) is a trade association that originated as the member education, advocacy and quality assurance arm of FTD, breaking formal ties with FTD in 2001.

FTD processes orders through the Mercury Network, its international telecommunications service.

History

President Calvin Coolidge with representatives from the Florists' Telegraph Service in 1924. Pres. Coolidge & Foral Telegraph Serv., (4-3-24) LCCN2016849218.jpg
President Calvin Coolidge with representatives from the Florists' Telegraph Service in 1924.

On August 18, 1910, at the Seneca Hotel in Rochester, New York at a Retail Delivery Association meeting, [3] thirteen American florists led by John Valentine, a Denver lawyer and floral company owner agreed to serve each other's out-of-town customers by exchanging orders via telegraph. This group was called Florists' Telegraph Delivery. In 1914, the company adapted Mercury by sixteenth-century Flemish sculptor Giambologna for its Mercury Man corporate logo, to emphasize the speed of delivery. In 1965, it began offering international orders, and took the name of Florists' Transworld Delivery. [4] [5] [6]

Going public

In 1994, FTD began a process of demutualization, acquiring control of the business, and ownership of its assets.[ citation needed ]

On December 19, 1994, a precursor to the FTD Corporation, a private, for-profit company Perry Capital, acquired FTD, which then divided FTD into two organizations: FTD Incorporated, a for profit corporation, and FTD Association, a non-profit trade association.[ citation needed ]

FTD Incorporated retained FTD's businesses, including the Mercury Network and the clearinghouse, and controlled FTD Association's rules, regulations, and bylaws. The FTD Association retained member education, advocacy and quality assurance.[ citation needed ]

In 2000, FTD Incorporated held an initial public offering of FTD.com on the NASDAQ. FTD Group was listed on the NYSE in 2005. The company is based in Downers Grove, Illinois.[ citation needed ]

In 2001, the FTD Association separated from FTD Incorporated, terminated all contracts, and, in exchange for $14 million, renamed itself Extra Touch Floral Association, and later, Retail Florist Association. It is based in Livonia, Michigan. [7] [8]

In 2008, United Online (Nasdaq :  UNTD) announced a merger agreement with FTD Group, valued at $800 million. [9] The acquisition was completed and shares of FTD ceased to trade on the NYSE August 26, 2008.[ citation needed ]

In 2013, FTD is spun off from United Online resulting in FTD Companies, Inc. becoming an independent, publicly traded company listed on NASDAQ.[ citation needed ]

In July 2019, FTD's North American and Latin America consumer and florist businesses were purchased by Nexus Capital Management and thusly have become a privately owned company and no longer will be a publicly traded company.[ citation needed ]

In May 2023, FTD merged with From You Flowers, LLC. Michael Chapin, founder and CEO of From You Flowers, took over as CEO of the combined companies. [10] From You Flowers, LLC does not have any retail locations and depend on florists within wire service networks to complete their orders. At the time of the merger From You Flowers, LLC held a 1 star rating across many platforms. [11] [12]

Acquisitions

In 1994, FTD was acquired by Perry Capital Corporation from the florists and converted into a for-profit corporation.[ citation needed ]

On July 31, 2006, FTD, Inc. announced its acquisition of Interflora Holdings, a UK-based sister co-operative that offered the FTD network in Britain and Ireland under the Interflora brand. "The acquisition, first announced on July 7th, 2006, was made for a purchase price of GBP 66 million, or approximately [US]$122 million, excluding transaction costs." [13]

In 2012, Interflora acquired Flying Flowers, Flowers Direct and Drake Algar in the U.K.[ citation needed ]

In July 2019, FTD's North American and Latin America consumer and florist businesses were purchased by Nexus Capital Management and are now known as FTD LLC.[ citation needed ]

In May 2023, FTD merged with From You Flowers, LLC. Michael Chapin, founder and CEO of From You Flowers, took over as CEO of the combined companies. [14]

Operations

Fiscal year 2006 revenues grew 6.2% to $465.1 million, compared with revenues of $437.8 million for fiscal 2005. This revenue growth was driven by an 11.6% increase in revenue in the Consumer Segment. [15]

The Mercury Network, the electronic network used by FTD, processes about fifteen million orders annually, through about 50,000 FTD affiliates in 154 countries, of which about 20,000 are in the United States and Canada.

On July 19, 2018, it was announced that CEO John Walden would be stepping down as the company began restructuring. [16] Scott Levin took over as president and CEO. [17]

In June 2019 FTD filed for Chapter 11 bankruptcy protection while it restructures; all customer deliveries will continue in the meantime. The company said it has a tentative deal to sell its flower delivery business in North and South America to Nexus Capital. It has also received offers to buy two subsidiaries: Personal Creations and the candy delivery business Shari's Berries. [17] Shari's Berries was acquired in 2019 by 1-800-Flowers.com. [18]

In July 2019, the foregoing transactions were consummated for FTD's floral consumer businesses and FTD Companies became FTD LLC. with the purchase of FTD and ProFlowers by Nexus Capital Management. [19]

In March 2020, Charlie Cole was named CEO. [20]

Lawsuits

FTD had obtained a near-monopoly position in its market. It has been sued several times by the United States Department of Justice to ensure it does not engage in non-competitive behavior, namely prohibiting members from affiliating with competing flowers-by-wire services. FTD entered into consent decrees with the Department of Justice after 1956, 1969, and 1990 suits. [21] [22] Florists' Transworld Delivery (FTD), sued its competitor ProFlowers for false advertising in August 2005. The suit focused on ProFlowers' claim to ship "direct from the fields" with "no middlemen". Stating that the lawsuit was "without merit", ProFlowers brought counterclaims against FTD. The lawsuit was settled a year later out of court.[ citation needed ]

See also

Related Research Articles

<span class="mw-page-title-main">Floristry</span> Production, commerce and trade in flowers

Floristry is the production, commerce, and trade in flowers. It encompasses flower care and handling, floral design and arrangement, merchandising, production, display and flower delivery. Wholesale florists sell bulk flowers and related supplies to professionals in the trade. Retail florists offer fresh flowers and related products and services to consumers. The first flower shop in the United States opened prior to 1851.

<span class="mw-page-title-main">Volcom</span> Lifestyle brand

Volcom is a lifestyle brand that designs, markets, and distributes boardsports-oriented products. Volcom is headquartered in Costa Mesa, California, U.S. The brand is known for its trademark stone logo, its slogan True to This, and the Let the Kids Ride Free campaign. Todd Hymel is the CEO of Volcom.

United Online, Inc. was an independent public company formed by the 2001 merger of NetZero and Juno Online Services. It is currently a subsidiary of investment bank B. Riley Financial. The company's range of products and services has evolved significantly since its inception as a provider of dial-up Internet access. This has been aided by a series of acquisitions that have included Classmates Online (2004), MyPoints (2006), and FTD Group, Inc. (2008), the latter of which was spun off as its own company in 2013. United Online is headquartered in Woodland Hills, California, United States.

FTD may refer to:

Flower delivery is a service in floristry. In many cases it is conducted through websites which allow consumers to browse online catalogues of flowers. They are often delivered to a third party, the recipient of the gift. Historically, these were coordinated through telegraphs and later telephones before the advent of the World Wide Web.

<span class="mw-page-title-main">Interflora</span> Flower delivery network

Interflora is a flower delivery network, associated with over 58,000 affiliated flower shops in over 140 countries. It is a subsidiary of Teleflora, a subsidiary of The Wonderful Company.

ProFlowers is a flower retailer in the United States. It is an e-commerce company that sells products shipped from growers, suppliers and its own distribution facilities to consumers. ProFlowers was headquartered in San Diego, California. It is a wholly owned subsidiary of FTD Companies.

<span class="mw-page-title-main">Floral industry</span>

The floral industry is focused on the production, distribution and sale of flowers for human enjoyment. The floral industry began in the Golden Century of the Netherlands, where flowers were grown on a large scale on vast estates. The industry continues to diversify from the production of cut flowers to the production and sale of plants and flowers in many different forms. The global floral industry market size is estimated to be worth US$ 50040 million in 2022 and is forecast to increase to US$ 58030 million by 2028 with a compound annual growth rate of 2.5% during the review period.

FloristWare is an order-taking and Point of Sale (POS)/Customer Relationship Management (CRM) system for retail florists.

<span class="mw-page-title-main">Jeff Clarke (businessman)</span>

Jeffrey J. Clarke is the current Executive Chairman at Florists' Transworld Delivery.

<span class="mw-page-title-main">Enesco</span> American company

Enesco is a privately held American giftware company that began in 1958. After changing ownership many times, the company was bought in 2023 by holding company Ad Populum. Brands owned or licensed by Enesco include Heartwood Creek and Department 56, and formerly Precious Moments and Things Remembered.

Phil Rulloda is an American florist, floral design teacher and author. He was a featured speaker and presenter in over 500 floral industry events worldwide. He put up Christmas decorations at the White House during the Gerald Ford administration and designed for the 1984 Summer Olympic Games.

<span class="mw-page-title-main">Bloomex</span> Canadian florist

Bloomex is a national Canadian floral company offering various floral and gift arrangements throughout Canada, Australia, New Zealand and the United States via its online order system. The company, headquartered in Ottawa, Ontario, is privately held by its founder and president, Dimitri Lokhonia.

<span class="mw-page-title-main">Texas State Florists Association</span>

The Texas State Florists' Association (TSFA) was founded in 1914 and is headquartered in Austin, Texas. Since its inception, the TSFA has grown into a professional trade association that covers many branches of the floral industry. Its membership base includes a diverse assortment of people in the floral industry, and it is involved in professional services and marketing in support of floral interests, state legislation, and the provision of educational opportunities. It represents the Texas floral industry, and has members in ten additional states. The organization hosts an annual convention, the first of which occurred in 1914. The TSFA sponsors the Texas Certified Florists Program, and publishes a monthly magazine named TEXAS in Bloom.

<span class="mw-page-title-main">Philip Breitmeyer</span> American politician

Philip Breitmeyer was a florist, one of the founders of Florists' Telegraph Delivery, and the mayor of Detroit, Michigan.

<span class="mw-page-title-main">Qurate Retail Group</span> American fashion holding company

Qurate Retail, Inc., also known as Qurate Retail Group, is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.

BloomNation is an American online floral marketplace with about 3,500 florists delivering to nearly 5,000 cities across the country. As an “Etsy-type” site for flowers, customers connect directly with local florists whose flower arrangements are highlighted in the marketplace. The florists upload their own real photos of their floral design as no stock catalog images are allowed. In the marketplace, customers can browse flower arrangements and reviews from participating florists all in one place.

Wesley Berry Flowers, Inc. is an floral, gifts, gourmet foods, and plants retailer in the United States.

<span class="mw-page-title-main">IGP (e-gifting retailer)</span> Indian multinational e-commerce company

IGP is an India-based online retailer of personalized, floral, gourmet, and handmade gifting products, as well as a distribution company, founded by Tarun Joshi in 2017. The company is headquartered in Mumbai, India, and operates in India, Singapore and UAE.

References

  1. ↑ "FTD Companies 2017 Annual Report Form (10-K)". U.S. Securities and Exchange Commission. April 2, 2018. Retrieved September 18, 2018.
  2. ↑ "FTD, LLC Announces Appointment of New Executive to Lead Consumer Sales and Partnerships". FTD Companies. October 1, 2019. Archived from the original on February 16, 2023. Retrieved April 16, 2023.
  3. ↑ "FTD Celebrates Its 100th Anniversary in 2010" (PDF). Mercury Messenger. FTD. October 2009. p. 8. Archived (PDF) from the original on February 27, 2023. Retrieved April 16, 2023.
  4. ↑ "About Us: The History of FTD". FTD. Archived from the original on January 23, 2010. Retrieved May 20, 2008.
  5. ↑ Slatton, Traci L. (January 12, 2012). "Traci Slatton's 'How To Look At And Enjoy A Piece Of Sculpture In 6 Steps'". Huffington Post . Retrieved February 12, 2018.
  6. ↑ Senatore, Carol (2015). "the Bargello Museum". Florence Webguide. Retrieved February 12, 2018.
  7. ↑ "About Us: A letter from the President". Archived from the original on May 17, 2008. Retrieved May 20, 2008. Retail Florist Association was founded in 2001 (as Extra Touch Floral Association) to promote and support growth, education and networking for the individual brick and mortar retail florist
  8. ↑ "Reorganized Association Links Consumers With Local Retail Florists". Business Wire via findarticles.com . June 7, 2001. Retrieved May 20, 2008.
  9. ↑ "Press release: United Online, Inc. to Acquire FTD Group, Inc. for Approximately $800 Million". United Online and FTD Group. April 30, 2008.
  10. ↑ "From You Flowers and FTD Announce Merger to Create a New Global Platform in the Floral and Gifting Industry".
  11. ↑ "From You Flowers Yelp".
  12. ↑ "BBB From You Flowers, LLC Profile".
  13. ↑ "FTD Group, Inc. Completes Purchase of Interflora Holdings Limited" (Press release). FTD Group, Inc. July 31, 2006. Retrieved September 23, 2006.
  14. ↑ "From You Flowers and FTD Announce Merger to Create a New Global Platform in the Floral and Gifting Industry".
  15. ↑ "FTD Group, Inc. Reports Fourth Quarter and Fiscal Year 2006 Results" (Press release). FTD Group, Inc. August 9, 2006. Retrieved September 23, 2006.
  16. ↑ Petrella, Dan. "The CEO of floral delivery giant FTD is leaving amid corporate shake-up, restructuring". chicagotribune.com. Retrieved July 24, 2018.
  17. 1 2 Jones, Charisse (June 3, 2019). "FTD files for bankruptcy protection, but flower deliveries will continue". USA Today. Retrieved June 5, 2019.
  18. ↑ "1-800-FLOWERS.COM, Inc. Completes Its Purchase of the Sharis Berries Brand". Business Wire. Retrieved March 23, 2021.
  19. ↑ "Bankruptcy court approves sale of FTD North America to Nexus Capital". PE Hub. August 12, 2019. Retrieved October 22, 2019.
  20. ↑ LLC, FTD (March 26, 2020). "FTD, LLC Announces Appointment of New CEO". GlobeNewswire News Room (Press release). Retrieved April 16, 2021.
  21. ↑ "Justice Department Settles Charges Against FTD, The Leading Flowers-By-Wire Company, For Violating 1990 Consent Decree". United States Department of Justice. August 2, 1995. Retrieved July 3, 2008.
  22. ↑ "F.T.D. Agrees to Settle Antitrust Complaint". The New York Times . August 3, 1995. Retrieved July 3, 2008.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.