Etymology
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magnolia (n.)

plant genus indigenous to subtropical Asia and eastern North America, very ornamental and frequently cultivated, 1748, named by Plumier from Magnolius, Latinized name of Pierre Magnol (1638-1715), French physician and botanist, professor of botany at Montpellier, who devised the systematic classification of plants, + abstract noun ending -ia. As the name of the pale pink color of magnolia blossoms, by 1931.

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Definitions of magnolia

magnolia (n.)
dried bark of various magnolias; used in folk medicine;
magnolia (n.)
any shrub or tree of the genus Magnolia; valued for their longevity and exquisite fragrant blooms;
From wordnet.princeton.edu