Ferns N Petals is planning to roll out its initial public offer (IPO) in 2020 while it expands its operations apart from the core business of flowers and gifts retailing. The expansion plans of the company include FMCG and hospitality sectors.
Vikaas Gutgutia, Founder and Managing Director, Ferns N Petals, said, "We are looking at coming out with an IPO in the next 14-18 months, in the year 2020. Work has already started on this front. We will use the money to fund our growth plans as we expand beyond our core business of flowers and gifting."
Ferns N Petals is eyeing at becoming a major player in the fast moving consumer goods (FMCG) segment with the introduction of packaged water, chocolates, cookies and cakes. The brand also looks to establish a chain of wedding hotels.
"We want to expand base beyond our core business of flowers, gifting and wedding decor. Apart from growing FMCG, we are also looking at opening a chain of wedding hotels and producing content for different platforms such as web series and short films," Gutgutia added.
The company aims to invest Rs 20 crore for starting three to four hotels in the next 12 months. Currently, Ferns N Petals has one operational property in Delhi.
Ferns N Petals had posted about Rs 360 crore turnover last fiscal. It is expecting about 30% year-on-year growth.
At present, Ferns N Petals has 300 outlets in 120 cities across India. The brand is targeting at launching 500 outlets across the country by the end of the year 2020.
