Ferns N Petals Eyes India IPO By End Of 2028; Targets 25% Annual Revenue Growth And Brand Acquisitions

Indian gifting retailer Ferns N Petals is targeting a public listing by the end of 2028, with proceeds earmarked for business expansion and the acquisition of other gifting brands.

The company's global CEO told Reuters the end of 2028 would be an appropriate time to go public, as the business works towards sustaining annual revenue growth of around 25% while improving profitability.

Founded in 1994, Ferns N Petals sells flowers, cakes and personalised gifts across India, the UAE, Singapore, Saudi Arabia and Qatar. The company is also looking to enter Malaysia and additional Gulf markets, though no specific timeline has been provided for those moves.

Revenue And Margin Trajectory

Ferns N Petals reported revenue of ₹1,085 crore for FY26, up 25% year-on-year, in line with the annual revenue growth target the company is aiming to sustain. India contributes approximately 55% of total revenue, with the Middle East accounting for a significant portion of the remainder.

The company was last valued at $329 million in 2022. The CEO said the business has now shifted its focus from pure revenue growth to profitability, reflecting what he described as a broader change in investor priorities. Core earnings margin is expected to improve to 5% to 6% in the current fiscal year, up from 2.5% in FY26.

Store Expansion Plans

Ferns N Petals plans to grow its store network to 350 outlets by FY28 from more than 300 currently. The expansion strategy combines a focus on affluent urban neighbourhoods with a franchise-led model to penetrate smaller cities. This two-pronged strategy aims to cater to the premium urban demand and the trend of higher discretionary spending in tier-two and tier-three markets.

Broader Market Context

According to an Indian industry body, India’s retail and consumer sector is forecast to grow to $1.93 trillion by 2030, doubling from 2024 levels, fuelled by rising consumer spending on discretionary goods and services.

Ferns N Petals is positioning itself to leverage this structural growth, particularly in the gifting segment, which sits at the confluence of retail, personalisation and lifestyle spending.

The CEO noted the Middle East conflict had not materially disrupted the company's plans, though softer sales were anticipated in the April to June quarter as a result of the regional uncertainty.

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