India's Gifting Giant, Ferns N Petals rolls out its first ever ESOP plan 2021
- FNP aims to improve performance and encourages the employees to acquire stocks in the company
- ESOP plan is active from September 2021 for first set of 35+ FNP employees
- Recently, FNP also introduced its first ever fundraising strategy "Private Equity"
NEW DELHI, Oct. 1, 2021 /PRNewswire/ -- India's gifting giant Ferns N Petals rolled out its first ever Employee Stock Ownership Plan (ESOP's) worth 2% of the company's outstanding shares, w.e.f. from September 2021, and is set to include first set of 35+ eligible employees under the program, as a reward for consolidating and strengthening the company's leadership position.The company comes with a workforce of 1000+ employees and has defined a set eligibility criteria for participation in the ESOP program. The company, which started with a single store in 1994, has grown into a reputed brand entailing 11 verticals, with a topline of INR 400 crore in FY 2020-21.
Responding to queries on the ESOP plan, Mr. Vikaas Gutgutia, Founder & Managing Director at Ferns N Petals said, "We believe ESOPs represents our belief in the vision for Ferns N Petals and ownership among our fellow employees. Recognizing contribution and commitment of our employees towards the firm, the ESOPs come with additional responsibility towards the company. We look forward to welcoming more employees to be a part of this exciting experience of being co- owners of FNP."
With the introduction of ESOP to the company, Mr. Pawan Gadia, CEO, Retail & Online, GCC & APAC Regions added, "From our first set of 36 Members, our core team is qualified for ESOPs on the basis of our eligibility criteria and various parameters, and I would like to take the opportunity to wholeheartedly congratulate them for their hard work that has got them this far, and remind them of the responsibilities and expectations that come from being a co-owner of FNP family. With the joy of giving as the vision of Ferns N Petals, we have kept company as well employee growth as our priority. We are expanding our eligibility criteria and will appreciate if every team member will be a part of our journey."
Acknowledging the announcement of ESOP program at Ferns N Petals, Mr Manish Saini, COO, E-Commerce said, "The company has taken a great step towards scaling up company's performance through the introduction of ESOP plan. This will not only make an impact on wealth creation, but also bring a multi-fold change in the coming years. With huge investment returns, rewards beyond salary and a sense of ownership, makes me a valuable part of FNP family and therefore, foresee company's progress in a big way."
Ferns N Petals recently introduced its first ever fundraising strategy private equity. The investment strategy for its first fundraising will be in line with the growth perspective in respect to support various marketing plans, branding activities, geographical expansion, acquisitions, and technological advancement. The PE investment will be managed and advised by Motilal Oswal.
FNP plans to strengthen its portfolio across sectors of consumer, technology, e-commerce, marketplace, corporate gifting, etc. Ferns N Petals completed 27 years of operations with its international presence in Dubai, Singapore, Doha, and plans to expand and be active in Saudi Arabia, Malaysia, Indonesia, Philippines, UK & Russia, in the near future.
About Ferns N Petals:
Ferns N Petals came into existence in 1994, and has grown to be the Largest Gifting Portal in India in the last 27 years. The journey started with a single store under the entrepreneurship of Mr. Vikaas Gutgutia, which has now emerged as a reputed brand. Today, the brand leads the floral, gifting and cakes industry with 400 outlets in more than 125 cities pan India.
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