Flower retailer Karuturi grabs contract from German supermarket chain

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In a major development, Bengaluru-based flower producer, exporter and retailer Karuturi Global Ltd (KGL) has concluded a new contract for supply of 50 million roses, an increase of 28 per cent over 36 million roses supplied in the previous year, from Edeka, one of the leading super markets network in Germany, said KGL in a filing to Bombay Stock Exchange.

This order comes at an increased price ranging from 20 per cent to 33 per cent above that of the price received this year. Meanwhile, the order will be executed through its various production facilities, the filing further added.

KGL, which currently operates 15 shop-in-shops in Bengaluru and two boutique stores at Bengaluru and Hyderabad, claims the order to be one of the largest deals of its kind in the USD 80 billion global cut flower industry.

Quite recently, KGL, having presence in India, Kenya, Ethiopia, Dubai and Holland, have started supply of roses to the Holland-based supermarket chain Jambo.

— Shailesh Shah

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