The RP-Sanjiv Goenka Group (RPSG) is drawing up plans for a global expansion of couture label Falguni Shane Peacock (FSP), months after acquiring a 40% strategic stake in the designer brand.
The investment, RPSG’s first in luxury fashion, will see the conglomerate scale the brand’s international retail presence and manufacturing capacity, while adding new product categories, Shivika Goenka, Director – Luxury & Education at the group, told FE.
What did Shivika Goenka say?
“They have a very rare combination of strong design aesthetic and great global appeal. We felt it’s a great brand to scale up and take abroad,” Goenka said. While New York is amongst the markets being considered for retail expansion, the group is also evaluating other international markets for building manufacturing capacity, she added.
FSP, founded by designer duo Falguni and Shane Peacock, has dressed international celebrities including Beyoncé, Lady Gaga and Jennifer Lopez, a rare feat among Indian couture houses.
The brand recently opened at JioWorld Plaza in Mumbai, its first store since the RPSG partnership, and has a collaboration with Katrina Kaif’s beauty brand, Kay Beauty, in the pipeline. FSP also stands to benefit from RPSG’s existing luxury infrastructure. A store at Quest Mall, positioned as Kolkata’s only luxury retail destination, is in the works. The group is also exploring collaborations between FSP and The Gift Studio, its premium gifting venture.
Indian conglomerates race to back homegrown designer labels
RPSG’s move comes as Indian conglomerates race to back homegrown designer labels. Reliance Brands has invested in Manish Malhotra, Ritu Kumar, and Abu Jani Sandeep Khosla, while securing joint ventures with international houses including Valentino, Armani, and Burberry. Meanwhile, Aditya Birla Fashion and Retail (ABFRL) has acquired stake in Sabyasachi, Shantanu & Nikhil, Tarun Tahiliani, and House of Masaba.
Goenka acknowledged the competition but carved out a differentiated positioning. “Some of the A-listers are taken by Reliance and some by Aditya Birla,” she said. Unlike its competitors, RPSG is not pursuing international brand licensees. “We’re not looking at international brands as such,” Goenka added, signalling a focus on scaling Indian labels globally rather than bringing foreign luxury to India.
“There are still many in India who deserve that spotlight and have that vision to get on a global scale, but just can’t. Today, the world has realised Indian craftsmanship is amongst the finest. This deserves its due on the global stage.”
The FSP deal signals a broader ambition. “The idea is that we do want to eventually build a luxury portfolio, like a house of brands,” Goenka said. “With this kind of capital, 5-6 Indian brands have the potential to take the world stage by storm.”
The investment thesis will centre on providing operational infrastructure while preserving creative autonomy. “Our role is to help build the infra around the creativity so that the brand can think 10 to 15 years ahead. The designer needs creative control. That is something the conglomerate cannot step into,” Goenka added.