RPSG Ventures has acquired a 40% stake in Falguni Shane Peacock’s parent company, valuing the luxury label at $54.6 million. The deal marks RPSG’s first investment in an Indian fashion brand and will support the designers’ global expansion as India’s luxury market accelerates toward a projected $27–32 billion by 2030.
India’s luxury fashion landscape gained a fresh corporate jolt this week as RPSG Ventures announced the acquisition of a 40 percent stake in FSP Design Private Limited, the parent company of designer label Falguni Shane Peacock. The deal, valuing the Mumbai-based fashion house at ₹455.17 crore ($54.6 million), places one of India’s fastest-growing conglomerates at the centre of a brand long favoured by Bollywood royalty, millennial brides, international pop stars and a growing global clientele. For RPSG Ventures, whose interests span energy, chemicals, IT services, consumer goods, sports, entertainment and most recently luxury media, the investment marks its first concrete move into India’s designer fashion sector—one that has rapidly become a battleground for corporate giants seeking to tap into the country’s soaring appetite for luxury.
The acquisition will be made through a mix of primary investment into the company and secondary share purchase from existing shareholders. RPSG Ventures also retains an option to acquire an additional 10 percent stake over the next 18 to 24 months, signalling confidence in the brand’s future and in the resilience of India’s growing luxury consumer base. Founded in 2004 by husband-and-wife design duo Falguni and Shane Peacock, the label has built a distinctive identity rooted in flamboyant couture, shimmering bridalwear, modern ready-to-wear silhouettes, menswear and accessories. The brand operates seven stores across New Delhi, Mumbai, Hyderabad and Kolkata, but its influence extends far beyond Indian metros. Over the years, Falguni Shane Peacock has gained international attention, with their designs worn by stars like Beyoncé and Jennifer Lopez, and showings at New York Fashion Week positioning the label firmly on the global stage.
For the Peacocks, this partnership represents not just an infusion of capital but a pivotal moment to accelerate international growth while preserving the brand’s uniquely Indian design language. “This partnership will allow the brand to scale globally while staying true to our heritage and craftsmanship,” co-founder and creative director Falguni Peacock told The Business of Fashion. The designers have long spoken about their ambition to strengthen the brand’s presence in international markets, especially in North America and the Middle East, where their bridal and couture lines enjoy strong demand among the diaspora and luxury clientele.
RPSG Ventures’ decision to align with a high-end fashion brand comes at a time when India’s luxury market is undergoing a transformation. According to Bain & Company, luxury spending by Indian consumers is set to more than triple between 2022 and 2030, reaching between €25 billion and €30 billion by the end of the decade. The rapid rise of affluent millennials, heightened global exposure and the expansion of luxury retail infrastructure—from standalone boutiques to high-end malls—have turned India into one of the most closely watched luxury markets in the world. With this acquisition, RPSG positions itself alongside Reliance Industries Limited (RIL) and Aditya Birla Fashion and Retail Limited (ABFRL), both of which have spent the past few years aggressively acquiring stakes in Indian designers to build expansive portfolios that cater to the country’s evolving luxury aspirations.
Interestingly, RPSG’s entry comes at a moment when many expected Reliance to deepen its ties with the Falguni Shane Peacock brand. In 2024, Reliance Retail collaborated with the designers for Swadesh, the conglomerate’s craft-focused luxury initiative, prompting industry watchers to speculate about a possible long-term partnership. But despite the synergy between the two entities, no such alliance materialised, creating space for RPSG Ventures to step in. The Kolkata-based group, which reported revenues of $4.7 billion in the 2025 financial year, has recently been building its luxury presence through media ventures, including Indian editions of Esquire, Robb Report, The Hollywood Reporter, and the wedding-focused magazine Manifest. The Falguni Shane Peacock deal, therefore, is more than a financial transaction—it represents the next phase of RPSG’s strategic push to establish itself as a leading player in India’s luxury ecosystem.
Shivika Goenka, director of luxury and education at RPSG Ventures, called the acquisition “integral to building a strong luxury portfolio.” Speaking about the brand’s global potential, he noted that the partnership not only aims to support the designers’ expansion and new launches but also strengthens the group’s long-term vision of positioning India as an influential player in the global luxury industry. As India’s soft power continues to grow through fashion, cinema, culture and media, corporate involvement is increasingly seen as a catalyst for scaling local brands to compete with global names. The investment reflects this broader momentum—a blend of business opportunity and cultural strategy.
For Falguni and Shane Peacock, whose designs often merge opulence with painstaking craftsmanship, the investment promises new opportunities to expand product lines, strengthen supply chains and explore new geographies. Despite its popularity, the brand has remained relatively selective in terms of store expansion, focusing instead on couture experiences and high-value bridalwear. With RPSG’s resources, the designers are now positioned to explore more structured international retail strategies, digital expansion and possible diffusion lines that retain the high-glamour DNA of the brand while appealing to broader luxury consumers.
The timing of the deal is also symbolic of the confidence large conglomerates are placing in Indian designers. As global luxury brands increase their presence in India and Indian consumers spend more on weddings, travel and premium shopping, homegrown couturiers are witnessing unprecedented demand. Although the Indian fashion industry remains highly fragmented, the growing corporate involvement is expected to bring structure, capital and long-term vision to designer labels that have traditionally been driven more by creative intuition than corporate strategy. RPSG’s backing could help Falguni Shane Peacock balance both—maintaining the creative flamboyance that defines their brand while accessing the financial and operational muscle needed to scale.
The acquisition also aligns with a global trend of established corporations acquiring or investing in luxury brands with strong storytelling and cultural roots. For India, whose handcrafted textiles, embroidery techniques and couture traditions are recognised worldwide, the entry of conglomerates like RPSG, RIL and ABFRL signals a shift from fashion as a niche creative pursuit to fashion as a strategic sector capable of driving cultural influence and economic growth. As Indian designers increasingly find themselves on international red carpets and in global luxury markets, the backing of powerful business houses could accelerate their journey from niche labels to global luxury players.
While the future roadmap for Falguni Shane Peacock under RPSG’s partial ownership will be watched closely, the partnership appears to be built on shared confidence in the growing influence of Indian design. As the luxury market evolves, the deal underscores how Indian conglomerates are positioning themselves not just as investors but as cultural stakeholders shaping India’s presence on the global stage. For now, the acquisition marks a significant milestone in the ongoing evolution of the country’s luxury fashion narrative, as one of India’s most recognisable designer labels steps into a new phase of ambition, expansion and global aspiration with the backing of a powerful new partner.
