Ferns N Petals eyes Rs 500 crore turnover in 5 yrs

Company also plans to have around 500 retail outlets in the next five years

Flowers and gifting retail chain Ferns N Petals aims to more than double its turnover to Rs 500 crore in 5 years, besides expanding in international markets.

"We are looking at least Rs 500 crore turnover in 5 years. We will expand overseas and want to become world's biggest florist. Our focus will be on overseas operations and e-commerce," Ferns N Petals Founder and MD Vikaas Gutgutia told PTI.

It also plans to have around 500 retail outlets in the next five years.

Ferns N Petals will also create a new business vertical and open a wedding hub in Delhi. This hub aims to be a one stop solution to wedding related decorations.

The company, which reported Rs 200 crore turnover last fiscal, expects to grow by up to 40 per cent in 2014-15, he said.

Elaborating on the overseas operations for the company, Gutgutia said Ferns N Petals will start retail operations in 7-8 countries and begin its e-commerce operations across the globe.

"We will start e-commerce operations in Middle East. We will expand it to the Philippines and South Africa by next year. We will also start retail operations in 7-8 countries. We may open stores in London, Hong Kong and Singapore by next year," he said.

Ferns N Petals will add 50 outlets to its network of 180 outlets across India this year. Most of the new stores will be franchised.