Expansion to reach out Saudi, South East Asian, Russian and the UK markets
Ferns N Petals (FNP), India’s gifting giant with 400 outlets in more than 25 cities, has launched its private equity, saying the investment strategy for its first fundraising which will be in line with the growth perspective and to support various marketing plans, branding activities, geographical expansion, acquisitions and technological advancement.
FNP plans to strengthen its portfolio across sectors of consumer, technology, e-commerce, marketplace, corporate gifting, etc. Ferns N Petals completed 27 years of operations with its international presence in Dubai, Singapore, Doha and plans to expand and be active in Saudi Arabia, Malaysia, Indonesia, Philippines, UK & Russia, in the near future.
The company, which started with a single store in 1994, has grown into a reputed brand entailing 11 verticals, with a topline of Rs.400 crore in FY 2020-21. Through continuous emphasis on product category, design and group innovation, the company leaves no stone unturned to surprise its consumers.
Rapid adoption of technology has come out with a need to investment in the sectors out of which, e-commerce gained prominence and are expected to be among the leadings sectors for investments in the coming decade.
Talking about the latest fundraising activity, Vikaas Gutgutia, MD & Founder said, “As Ferns N Petals adopts Private Equity investment route, through this we plan to raise funds, in the upcoming financial year for expansion, deepening the distribution network, brand building which will help us serve our customers better and create value for all the stakeholders of the company.”
“It is also a big opportunity for us to achieve rapid progression and strengthen our business model,” Gutgutia said in a release on 16 Aug 2021.
The online retail market in India is estimated to be 25% of the total organized retail market and is expected to grow their after. On the radar FNP have technology that has proved to be one of its main growth drivers. With a robust technical support and end to end digitalization, FNP were able to sustain, be productive, innovative and flourish in the times of lockdown too.
The brand with its unique business model stands as the largest online gifting retail platform in the Asia.
The PE investment will be managed and advised by Motilal Oswal. #investment #funds #banking #technology /fiinews.com
