Sanjiv Goenka’s RPSG Ventures has approved a deal to acquire 40 per cent of luxury fashion label FSP Design at an enterprise value of Rs 455.17 crore with a cash consideration. The company will also have the option to buy an additional 10 per cent stake within 18–24 months of completion.
In a regulatory filing late on Tuesday, RPSG Ventures said that the investment marks the company’s foray into the luxury couture segment, representing a significant milestone in its vision to build a diverse portfolio in the luxury fashion and lifestyle space.
FSP Design Private Limited is engaged in the business of designing, manufacturing, marketing, sale and distribution of apparel and accessories through its luxury brand Falguni Shane Peacock/FSP and other associated intellectual properties sold at retail outlets via exclusive brand outlets, multi-brand outlets and online sales in India and overseas.
FSP Design’s revenue from operations for 2024–25 had stood at Rs 91.75 crore.
In a statement, RPSG said that the group’s investment into FSP would accelerate its long-term growth strategy, enabling the brand to expand across key markets, diversify into new categories and enhance organisational scale in line with global luxury benchmarks.
Commenting, Shashwat Goenka, vice-chairman, RPSG Group, said, “Falguni Shane Peacock reflects the emergence of a modern Indian luxury identity — rooted in heritage yet unapologetically global in its expression.”
“Our partnership is driven by a clear belief: Indian craftsmanship and contemporary design deserve a global stage. FSP has the brand equity, the authenticity and the creative depth and we are proud to support this next phase of growth,” Goenka added.
Falguni Peacock, co-founder and creative director, said that the partnership marked a new chapter. “RPSG’s belief in our vision gives us the support to scale globally while staying true to our heritage and craftsmanship. We look forward to building the future of Indian luxury together.”
So far, RPSG’s presence in the luxury and lifestyle space has been anchored by the upscale Quest Mall, home to marquee brands like Burberry, Canali and Gucci. The mall sits under Quest Properties India, a subsidiary of RPSG Ventures.
Conglomerates buying stakes in Indian designer labels took prominence from 2020 with Reliance Industries and Aditya Birla Group leading the buying spree.
Reliance Industries has stakes in Manish Malhotra, Rahul Mishra, Abu Jani Sandeep Khosla, and Abraham & Thakore, among others.
The Aditya Birla Group also acquired stakes in Sabyasachi, Shantanu & Nikhil, Tarun Tahiliani and House of Masaba Lifestyle.
The RPSG group is a conglomerate spanning energy, chemicals, ITeS, retail, consumer, sports and entertainment. Beyond Quest, RPSG Ventures’ subsidiaries include IT services provider Firstsource Solutions, RPSG Sports (owner of the Lucknow Super Giants), Guiltfree Industries (maker of Too Yumm) and ATK Mohun Bagan, which operates the iconic Mohun Bagan Super Giant football club.
In 2024–25, RPSG Ventures reported a total income of Rs 9,645 crore and profit after tax of Rs 164.4 crore on a consolidated basis.
