Falguni Shane Peacock has opened a new boutique at Jio World Plaza in Mumbai, marking the brand’s first store launch since its partnership with RPSG Group was finalized in November 2025. RPSG Ventures acquired a 40% stake in FSP Design, the parent company of Falguni Shane Peacock, at an enterprise valuation of Rs 455.17 crore. This represents the Kolkata-based conglomerate’s first investment in luxury fashion and its initial move into the designer brand space.
The new store is the brand’s eighth retail location in India and introduces a format that differs from existing outlets. Both bridal couture and gowns are housed under one roof for the first time, consolidating categories that were previously separated across different stores. This shift addresses how the brand’s customer base shops today, with wedding festivities requiring both traditional Indian bridal wear and Western evening wear, often purchased by the same client within compressed timeframes.
Falguni Shane Peacock said, “This new destination represents who we are today, a brand rooted in Indian craftsmanship but shaped by a global lens. Uniting luxury Indian and Western wear in one experience feels like the most authentic evolution of our brand. As we enter this powerful new phase with the RPSG Group, this outpost becomes the benchmark for everything we will build going forward.”
Interior designer Gauri Khan designed the space, continuing a working relationship that has produced several FSP store interiors. Her approach for Jio World Plaza moves away from the maximalist aesthetic the brand has become known for at locations like Kala Ghoda and Dhan Mill. Warm wooden tones, layered veneers, hand-crafted textures, monogrammed brass accents, and curated art elements create a more restrained environment. Gold touches and sculptural forms appear throughout but with less visual intensity than previous stores.
Certain design elements maintain continuity across the retail network. Chandeliers from the Kala Ghoda store were installed at this location. Travertine at the entrance echoes the material used at Dhan Mill. Monogram detailing, a consistent visual marker across FSP stores, appears in multiple applications throughout the space.
Hand-sketched illustrations, black-and-white archival imagery from the brand’s Taj Mahal shoot, embroidered fabric paneling, and custom-developed wallpaper function as narrative elements. A seven-foot peacock urn, brass and wooden logos, and mannequins sourced from France serve as bespoke design features.
Khan said, “Designing for Falguni Shane Peacock is always an immersive artistic process. With this store, the intent was to showcase a more classic, timeless identity echoing refined craftsmanship and emotional storytelling. Every element, from textures to flow, was created to make the customer experience not just retail, but discovery.”
Shivika Goenka, Director of Luxury and Education at RPSG Group, said, “We see our partnership with Falguni Shane Peacock as a meeting of complementary strengths, RPSG’s ability to build and scale businesses and FSP’s uncompromising approach to design and craftsmanship. As our first flagship launch since the partnership, this store represents the start of a thoughtful yet ambitious expansion, taking the FSP aesthetic to new markets and categories while staying true to the design DNA that makes the brand so distinctive. It is an important step towards our shared ambition of placing Indian luxury confidently on the global stage, on terms that are proudly and authentically our own.”
RPSG’s investment structure includes an option to acquire an additional 10% stake within 18 to 24 months, potentially bringing total ownership to 50%. This phased approach allows time for operational integration before committing to equal partnership. RPSG reported total income of Rs 9,645 crore and profit after tax of Rs 164.4 crore on a consolidated basis in FY 2024-25. Its portfolio spans energy, chemicals, IT services, consumer goods, sports, and entertainment, with recent entries into luxury publishing through Indian editions of Esquire, Robb Report, and The Hollywood Reporter.
Founded in 2004 by husband-wife duo Falguni and Shane Peacock, the brand courts celebrity clientele like Beyoncé, Jennifer Lopez, Katy Perry, Rihanna, Lady Gaga, Kim Kardashian, and Priyanka Chopra. In 2015, the designers stepped back from international fashion weeks to focus on the Indian market, particularly bridal couture. They returned to New York Fashion Week in September 2023 after an eight-year hiatus.
FSP Design reported revenues from operations of Rs 91.75 crore in FY 2024-25, up from Rs 76.50 crore in FY 2023-24 and Rs 68.50 crore in FY 2022-23. Sales are distributed across exclusive brand outlets, multi-brand stores, and online channels, with presence in India and international markets. Prior to the RPSG partnership, the brand operated seven stores in New Delhi, Mumbai, Hyderabad, and Kolkata.
