While using css_styled_content, we were changing/editing the html output using Typoscripts like stdWraps etc.
But while using the latest fluid_styled_content, we have the advantage of editing the fluid templates, which is more flexible and easy.
First step is to copy fluid templates to our custom folders from system extension path 'EXT:fluid_styled_content/Resources/''. to for example in our case 'fileadmin/templates/ext/fluidcontent/'.
So the typoscripit to assign new template path is
200 = fileadmin/templates/ext/fluidcontent/Templates/
200 = fileadmin/templates/ext/fluidcontent/Partials/
200 = fileadmin/templates/ext/fluidcontent/Layouts/
Now we can edit any of the template file according to our requirement. After clearing typo3 cache, we can see the changes in the front-end.