Lighthouse-backed Indian gifting retailer Ferns N Petals plans to go public by the end of 2028 to fund expansion and acquisitions, while targetting revenue growth of about 25% annually, its global CEO told Reuters.
“The end of 2028 will be a good time for us to go public,” Pawan Gadia said, adding that the company would also use the proceeds to buy other gifting brands.
Founded in 1994, Ferns N Petals sells flowers, cakes and personalised gifts in India, the United Arab Emirates, Singapore, Saudi Arabia and Qatar, and aims to enter Malaysia and more Gulf countries. Gadia did not provide a timeline.
Gadia said the war in the Middle East had not disrupted the company’s plans, despite expecting softer sales between April and June.
India’s retail and consumer sector will double to $1.93 trillion by 2030 from 2024 levels, according to Deloitte and an Indian industry body, as consumers spend more on discretionary goods and services.
The company reported revenue of 10.85 billion rupees ($113.19 million) in fiscal 2026, up 25% from a year earlier. It was last valued at $329 million in 2022, according to business data provider Tracxn.
Gadia expects Ferns N Petals to maintain annual revenue growth of about 25%, with India contributing around 55% of revenue.
Ferns N Petals also plans to expand its store network to 350 by fiscal 2028, from more than 300 currently, focusing on affluent urban neighbourhoods and franchise-led expansion into smaller cities.
The CEO additionally projected a core earnings margin of 5%-6% this fiscal year, up from 2.5% last year, saying Ferns N Petals had shifted its focus to profitability as investors now place greater emphasis on earnings than on revenue growth.
($1 = 95.8525 Indian rupees)
Reuters
