private equity firm lighthouse have invested Two people familiar with the deal told that Rs 200 crore in gifting platform Ferns N Petals. “We are very excited to partner with Lighthouse and look forward to learning from their deep consumer insights developed through a focused investment approach,” said Vikas Gutgutia, Founder and Managing Director, Ferns N Petals. The company plans to use the funding primarily to upgrade its technology.
Ferns N Petals started as a single store in 1994. company It has around 400 outlets in over 125 cities across India. The firm has also forayed into Dubai, Singapore, Doha and plans to expand to Saudi Arabia, Malaysia, Indonesia, Philippines, UK and Russia soon. It claims to generate net sales of approx. 400 crores during the financial year 2020-21 and is on track to close the current financial year with approx. 600 crore in sales, despite the pandemic disruption.
“…Online gifting hardly hurts Surface And there’s huge headroom to grow with the digital tailwinds supporting such growth, said Sachin Bhartiya, founding partner, Lighthouse Advisors.
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