BT Exclusive: Ferns N Petals takes the quick commerce route, targets delivery in less than 1  hour

In the bustling world of gifting, one name has consistently blossomed in the hearts of consumers: Ferns N Petals (FNP). Founded in 1994, when sending flowers was still considered a luxury, FNP set out on a mission to transform the unorganised gifting market into a well-structured enterprise. The man behind this floral revolution, Vikaas Gutgutia, recalls how foresight and meticulous planning have guided him through three decades of growth and innovation.

As trends evolved, so did FNP, adapting to the changing landscape of consumer demands. With the rise of quick commerce, the brand has forged partnerships with platforms like Blinkit and Instamart, ensuring that it remains at the forefront of the industry. In its latest chapter, FNP is gearing up to introduce quick delivery service, aiming to deliver its gifting range to customers’ doorsteps in less than an hour.

Talking to Business Today, Gutgutia says that gifting was never an organised sector and with the rising number of players in the category plus the e-commerce and quick commerce exposure, the sector is getting its due recognition. “I think we live in an era where people are not patient anymore. Everybody wants everything immediately. So, at FNP also, we started one-hour delivery, which we never did. We are delivering to almost 300 pin codes in one hour and now we want to own this space.”

As per FNP’s website, the company already has 2-hour delivery section visible, they are gearing up for less than one hour delivery in around 50 cities. FNP has already been a backend provider to most of the quick commerce platforms as part of its B2B2C vertical which Gutgutia says gas grown big in past two years and with more players coming in the space, Gutgutia expect it to grow even bigger.

But how it is planning to make such rapid deliveries? With opening more stores, says Gutgutia. At present, FNP has 400 stores across 133 cities in India which includes Tier I and II cities. Now, it plans to open more stores so that quick delivery is possible not just in metros but in the smaller towns as well. For FNP, the closest competitors include IGP, Winni-Cakes, FlowerAura, etc.

As per Redseer, with a current market size of $2.8 billion, quick commerce is set to become a disruptive force and is poised to reshape the retail industry. The country is also seeing a shift in consumer behaviour where platforms like Zepto, Blinkit, and Instamart are becoming the preferred choice for customers’ shopping needs even for festivals. And, these companies are investing heavily to strengthen their presence. But Gutgutia says the plan, as of now, is to not to take that route.

FNP had raised around Rs 200 crore in 2022 from Lighthouse to invest in its systems and technology and Gutgutia says it was because they were expanding and were changing the whole brand image otherwise, they don’t want to go behind valuation game. However, the company does plan to go for an IPO in the next 12-18 months.

Other than the quick delivery route, FNP has also forayed into hospitality business with Udman Hotels and Resorts for weddings, corporate gatherings, or retreats. Among other verticals, the company also has a subsidiary that offers medical tourism, called MediJourney, that helps patients from all over the world to connect with the best hospitals and doctors in India.