Ferns and Petals (FNP), a flower retail chain is planning to expand aggressively.
Ferns and Petals (FNP), a flower retail chain is planning to expand aggressively. The company is aspiring to double the count of its retail outlets to over 200 within two years, confirms Anil Sharma, General Manager, Retail, Ferns N Petals. Out of these new shops to be opened, 15 will owned and rest will be franchised.
At present, FNP has 110 shops in 45 cities in India and supplies flowers in 150 countries through its online portal. It has current turnover of Rs 100 crore and now the company is also venturing into floral exports. For this, FNP has purchased four hectares of land near Bangalore for cultivation of roses and carnations for export purposes. The company is also starting an academy to train florists.
The company would be spending Rs 50 crore (approx) in the next two years for its growth plans comprising launching retail stores, starting flower cultivation and starting the training academy. The company will be employing its internal accruals initially and obtain private equity funds next year.