Private equity firm Lighthouse has invested ₹200 crore in gifting platform Ferns N Petals, two people familiar with the deal said. “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 Vikaas Gutgutia, founder and managing director at Ferns N Petals. The company plans to primarily use the funding to upgrade its technology.
Ferns N Petals started as a single store in 1994. The company has around 400 outlets in more than 125 cities across India. The firm has also entered Dubai, Singapore, Doha and plans to expand into Saudi Arabia, Malaysia, Indonesia, the Philippines, the UK and Russia soon. It claims to have generated net sales of nearly ₹400 crore during the fiscal year 2020-21 and is on track to close the current financial year with nearly ₹600 crore in sales, despite the pandemic disruption.
“…Online gifting has hardly scratched the surface and has huge headroom to grow, with digital tailwinds supporting such growth,” said Sachin Bhartiya, founding partner at Lighthouse Advisors.