India, Sept. 10 -- Swiggy Ltd has entered the gifting space with a new segment 'Giftables', following a similar move by its larger rival Blinkit. The push into instant gifting is being viewed as a fresh growth opportunity, one that could also lift demand for traditional yet loss-making incumbents such as Archie's, Ferns N Petals (FNP), and IGP (Indian Gifts Portal). The timing of the launch appears strategic with the upcoming festivals set to charge up the gifting space and impulse buying become more the norm. FNP and Archies do not see Swiggy and Blinkit as rivals. Instead, they call quick-commerce a new sales channel that has already become meaningful. Both brands say platforms such as Instamart and Blinkit have helped them expand reach, with FNP doubling its quick commerce sales every quarter and Archies now generating about a fifth of its revenue from such tie-ups. "We are an omnichannel brand, and Swiggy is a key partner for distribution," said Avi Kumar, chief marketing officer at FNP. "While our own website remains the largest contributor, quick commerce has clearly emerged as the fastest-growing sales channel. Giftables will create further synergies between the brands and open new avenues for consumers," he said. FNP's sales through quick-commerce platforms have been doubling each quarter, especially for cakes, flowers, and gift hampers, he said. The Delhi-based gifting company, which has been in the business for over three decades, raised Rs.200 crore in 2022 from Lighthouse India Fund III at a valuation of Rs.2,400 crore. It specializes in cakes, flowers, chocolates, personalized gifts, lifestyle products, and corporate gifting solutions. In FY24, FNP E Retail Pvt Ltd reported revenue of Rs.256.3 crore, up from Rs.210.9 crore in FY23. Its losses narrowed to Rs.18.3 crore from Rs.36.4 crore the year before, according to the filings with the ministry of corporate affairs. The company is yet to file its financials for FY25. Archies Ltd, which was a rage amongst teenagers around the turn of the millennium, sees quick commerce as an important sales avenue. Archies gets 60% of its revenues from retail stores, 20% from quick commerce and 2-3% from e-commerce/website and the remaining about 17-18% from exports. "Quick commerce is not a threat but a partner. It helps us with logistics and last-mile delivery, and gives us a capex-light way to expand beyond our stores," said Hanisha Gandhi, executive director at Archies. "That said, retail will always remain our backbone." Gandhi said reliance on marketplaces and delivery partners does come with risks. "We haven't yet been charged any listing or advertising fees by these platforms, but there is always that risk. That's why we're working on revamping our brand image, differentiating products across channels, and bringing more premium offerings back into our retail stores," she said. Archies reported a revenue of Rs.69.7 crore as of FY25, down from Rs.80.1 crore last fiscal year. The company's net loss for FY25 narrowed to Rs.1.5 crore from Rs.8.21 crore last fiscal year according to the company's FY25 annual report filed with the Bombay Stock Exchange. The Archies Ltd stock, which traded at upwards of Rs.1,300 at a point in 1999, closed at 18.08 on Tuesday, with a market capitalisation of Rs.61.07 crore. The company is in the process of revamping its stores and product lines by March to appeal to younger consumers, even as competition rises from social media-driven labels. "Instagram and influencer-led gifting brands have eaten into sales, especially among younger consumers. But Archie's has the advantage of trust and legacy; we've been in this business for over three decades. Convenience matters, but so does reliability when it comes to emotions," Gandhi said. Join Ventures Private Ltd, which runs gifting platform IGP and flower delivery platform Interflora India, posted revenue growth of 34.45% to Rs.160 crore in FY24, though it remained loss-making with a narrowed net loss of Rs.9.9 crore according to filings with the ministry of corporate affairs. The company is yet to file its FY25 financials....