After Ambani’s and Birla’s, Goenka’s enter the Indian luxury apparel market
New Delhi: RPSG Ventures Ltd, part of RP-Sanjiv Goenka Group, on Wednesday approved the acquisition of 40% stake in FSP Design Pvt. Ltd, the company behind luxury fashion brand Falguni Shane Peacock (FSP), is celebrating its official entry into India’s luxury apparel and lifestyle market.
The deal is based on corporate valuation ₹455.17 crore is subject to post-closing price adjustments specified in the share subscription and purchase agreement (SSPA).
RPSG Ventures, in a filing, said its Board of Directors, in its meeting on Tuesday, authorized entering into a share subscription and purchase agreement and shareholders agreement (SHA) with FSP Design and its promoters (Falguni Shane Peacock, Shane Jude Peacock, Kendi Rashmi Vimadalal and Siddharth Bharat Gandhi). RPSG Ventures will hold a 40% stake by purchasing new shares and shares from existing owners.
“Indian craftsmanship and contemporary design deserve a global stage. FSP has brand equity, originality and creative depth, and we are proud to support this next phase of its growth,” said Shashwat Goenka, vice chairman of RPSG Group.
The company will also retain the right to acquire an additional 10% stake in FSP Design within 18-24 months of completion of the initial transaction, which will allow RPSG Ventures to increase its total stake to 50% over time, according to its filing with the BSE.
The investment in FSP marks RPSG Ventures’ move into the luxury couture segment and is an important step in its strategy to build a differentiated portfolio in the luxury fashion and lifestyle space.
Founded in Mumbai in 2019, FSP Design designs, manufactures and distributes luxury couture and accessories under the Falguni Shane Peacock brand.
FSP reported revenue from its operations ₹91.75 crore in FY25 ₹76.50 crore in FY24 and ₹68.50 crore in FY23; sales have spread across India and abroad through select stores, multi-brand outlets and online platforms.
RPSG Ventures, IT services, business process management, FMCG (including ayurvedic and wellness products), real estate and sports.
In FY25, the company reported its total revenue as follows: ₹9,645 crore and profit after tax ₹164.4 crore.
Indian designers are increasingly selling partial or full stakes to large businesses in a bid to scale and expand their brick-and-mortar presence. This was especially true in the post-pandemic era, when quarantines temporarily halted the wedding market and related businesses. As a result, many investors purchased shares in local labels in order to support and grow their businesses.
In January 2021, Aditya Birla Fashion and Retail acquired approximately 51% of Sabyasachi Mukherjee’s fashion house. ₹398 crore, followed by a 33.5% stake in Tarun Tahiliani’s couture brand in February. ₹67 crore. In the same year, Reliance Retail Ventures Ltd (RRVL) launched fashion designer Ritu Kumar’s partnership with Ritika Pvt. acquired the majority shares of the company. Ltd. In 2022, Aditya Birla Fashion and Retail also acquired 51% stake in House of Masaba.
Meanwhile, RPSG Group’s investment in FSP will accelerate its long-term growth strategy and allow the brand to expand in key markets, diversify into new categories and improve organizational scale, according to the company announcement.
Falguni Peacock, FSP’s co-founder and creative director, said the partnership will help the brand’s global ambitions.
The transaction is subject to customary closing conditions.
India’s wedding market Considering the number of weddings and the young population, it is important to wear it on special occasions.
Households also traditionally save money and expand their budgets for weddings, buying gold, clothes and shoes, among other things.
Indian wedding industry Reached $75 billion in the 2023-24 wedding season Mint last year’s report.
