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RPSG Ventures is acquiring a 40 percent stake in FSP Design Private Limited, the parent company of Falguni Shane Peacock, a luxury fashion house spanning couture, ready-to-wear, bridal, menswear and accessories.
RPSG Ventures valued the enterprise at 455.17 crore rupees ($54.6 million), making its acquisition through a combination of primary investment and secondary share purchase from existing shareholders. The group retains the option to acquire an additional 10 percent stake in FSP Design within the next 18-24 months.
Founded in 2004 by husband-and-wife duo Falguni and Shane Peacock, the brand runs seven of its own stores in New Delhi, Mumbai, Hyderabad and Kolkata, and has previously shown at New York Fashion Week. The fashion house is not only popular with local brides and celebrities but has also been worn by international pop stars like Beyoncé and Jennifer Lopez.
This partnership will allow the Mumbai-based brand to “scale globally while staying true to our [Indian] heritage and craftsmanship,” co-founder and creative director Falguni Peacock told The Business of Fashion.
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Kolkata-based RPSG Ventures is one of India’s fastest growing business conglomerates with diverse interests across energy, chemicals, IT services, consumer goods, sports and entertainment, and reported revenue of $4.7 billion in the 2025 financial year. The group has made inroads in the luxury publishing category, with the recent launches of Indian editions of Esquire, Robb Report, The Hollywood Reporter, and a local wedding-focused magazine Manifest.
The Falguni Shane Peacock deal is RPSG’s first investment in an Indian fashion brand, a move that places the company alongside Reliance Industries Limited (RIL) and Aditya Birla Fashion and Retail Limited, two rival conglomerates which have invested in over a dozen Indian designer labels between them in recent years.
Shivika Goenka, RPSG Ventures’ director of luxury and education said the Falguni Shane Peacock deal is “integral to building a strong luxury portfolio.” The partnership aims to further the couturiers’ international expansion and future launches, and more importantly, “strengthens our group’s commitment to shape India’s presence on the world stage,” he added.
In 2024, RIL’s Reliance Retail entered into a collaboration with Falguni Shane Peacock for the group’s craft-focused brand Swadesh, which industry watchers expected would eventually result in a deeper partnership. But no such alliance was eventually forged.
Luxury spending by Indian consumers is expected to more than triple between 2022 and 2030, reaching €25 to €30 billion ($27 to $32 billion) in 2030, according to Bain & Company.
Learn more:
Why Billionaire Industrialists Are Snapping Up India’s Fashion Brands
Mega-conglomerates Reliance Industries Limited and Aditya Birla Group have invested in more than a dozen Indian designer brands. There is more to the deals than meets the eye.
