While most people held the "flower children" in little regard, Louie recognized that they would eventually grow up to be the leaders of tomorrow. So he figured that if he could get in favour with them, he would one day be very powerful and influential. To do this, he cornered the flower market in Gotham City so that he could help them with their flower-in.
He later tried to corner Gotham's fragrance market by forcing Bruce Wayne to cut the scent pouches out of kidnapped zoo animals, but this attempt was equally poorly thought out.