When investing, your capital is at risk.
The pandemic certainly brought in a surge of interest for houseplants, especially the Chinese Money Plant which saw a search rise of 402%. Can you blame them?
The reason people were buying more plants lies between a few reasons: engaging with a new non-digital hobby, social media trends, finally having the time to take better care of their home aesthetic and the psychological benefits of houseplants.
According to the RHS, houseplants are known to:
- Improve your mood
- Reduce stress levels
- Increase your productivity
- Reduce blood pressure
- Reduce fatigue and headaches by 20-25%
Dr. Hayk Khachatryan, an Associate Professor and Director of the Consumer Behaviour & Insights at the University of Florida, conducted a houseplant research study which found that 72% of plant buyers stated their houseplants made them feel happier. 44% reported feeling more optimistic about their future during the pandemic.
With the indoor houseplant sector last valued at £2.2 billion in the UK, experts predict that it’s only going to grow. Beth Chapman, the founder of Leaf Envy, is carving out her own space in this growing field (pun intended).
Leaf Envy is the ultimate destination for the modern plant lover. Beth, an interior design and nature enthusiast, came up with the idea when she moved to Los Angeles for a previous job. Due to the relocation, she sold everything and decided she wanted to only purchase meaningful things. So when she arrived at her new empty apartment, she decided she would incorporate nature into her home.
However, on this journey, Beth saw a gap in the market and Leaf Envy was born as a pop-up on her sister’s canal boat. Fast forward to 2019, Beth was accepted onto Google’s Female Founder programme and they quickly outgrew the boat!
To date, Leaf Envy has processed over 25,000 orders (which means they’ve planted over 25,000 trees). A champion in the sustainability space, all packaging is 100% sustainable and orders are delivered with electric vans and bikes. The Leaf Envy team has a strong background in Business Development and Marketing which no wonder has led to 80% of revenue driven by non-paid traffic and word of mouth, and landing big B2B accounts such as Grind, Google and Soho Home.
How does Leaf Envy generate revenue?
Leaf Envy’s business model covers five revenue streams:
- Product: Plants, pots and accessories
- Subscription plant box: Subscribers receive a surprise plant & pot each month, curated by plant designers.
- Corporate gifting: Clients include the likes of Amazon, DAI and Google.
- Dropship & wholesale
- B2B channel: Designing and installing luscious greenspaces in organisations like Grind & Adidas.
By diversifying their revenue streams, they have created a business which can thrive in the worst of situations. But with 68% YoY revenue growth and a 45% order repeat rate, we’re sure they’ll be just fine.
Now ready to take the business to the next level, they are just about to hit their £360,000 fundraising target. With over 130 investors joining them on the ride, Leaf Envy plans on using the capital to hire digital experts, create high quality content to increase brand awareness and invest more into their tangible products.
Want to be a part of their journey to take the plant industry by storm? Check out their campaign here.