Flower and gifting firm Ferns N Petals is looking to double its turnover to Rs 1,000 crore in next three years from Rs 500 crore in the current financial year, on the back of its innovative services and entry into more markets across the globe.
Ferns N Petals (FNP) completed 25 years of operations with an estimated topline of Rs 500 crore in 2019-20.
The company, which started with a single store in 1994, has grown into a reputed brand with 11 verticals.
Talking to PTI, Ferns N Petals CEO, Retail & Online, India, UAE & Singapore, Pawan Gadia said, "The company strives to become Rs 1,000 crore entity in the next three years, with 35 per cent growth year-on-year basis, by adopting people first approach and doing innovation in all spheres of business."
The company's turnover stood at Rs 350 crore in 2018-19, Rs 245 crore in 2017-18, Rs 170 crore in 2016-17, Rs 120 crore in 2015-16.
FNP is also planning international expansion by launching online services as well as store operations in Indonesia and Saudi Arabia, Gadia said.
The company, which has online operations in Qatar, will now also launch store operations in the country. It plans to enter a new international market in every three months.
It also has presence in Dubai and Singapore
FNP is planning to invest Rs 50 crore next year towards branding, technology and international expansion, Gadia said.
"On the retail front, FNP is planning to open 8 retail stores in a month next financial year onwards. Out of these, 60 per cent will be cake stores and 40 per cent will be flower stores," he added.
Currently, the company has 386 retail stores in 120 cities across India.
The company recently launched 'Flower Will' initiative for its silver anniversary celebration.
As part of this initiative, customers can subscribe for floral bouquets for their loved ones, and they will be delivered even after the customer is no more.
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