FirstCry
The baby care e-commerce in India is experiencing enormous growth. This is due to the growth in the logistics sector, awareness about children’s wellness, urbanization, and an increase in disposable income. The current market size of the kids retail platform in India is said to be over one trillion Indian rupees and has a potential for growth. The spending capacity of nuclear families has a massive impact on the potential and growth of baby care e-commerce in India. With a robust growth trajectory, the kids retail platform in India has provided success to many such online e-commerce platforms. And one such notable business is FirstCry. The growth of FirstCry in India started with a brilliant idea, and eventually the company rose to greater profits due to the increase in demand. In this article, we will learn about the growth of FirstCry in India.
FirstCry’s success story
First Cry is one of the leading e-commerce multinational companies that caters to infants needs, children’s products, and maternity needs. It was founded by Supam Maheshwari and Amitava Saha in 2010. The company is based in Pune, Maharashtra. Currently the company has over a thousand retail stores as well as its own website and mobile app. It is one of the most preferred kids retail platforms in India because of its wide range of selection and high quality.
The early stage of FirstCry
The FirstCry’s success story starts from the ideation of this brand, due to Supam Maheshwari’s personal experience, where he recognized the availability and quality of kids products in abundance abroad when compared to the Indian market. Realizing the potential of this, he, with Amitava Saha, started this kids retail platform in India. Initially, FirstCry’s business model was based on an inventory model where they would ship products from warehouses located in Delhi, Bangalore, and Kolkata. By 2011, this baby care e-commerce in India launched its offline retail stores with franchisee-owned stores in Tier-2 and Tier-3 cities. This helped them to acquire more customers and increase the brand’s visibility. By 2013, FirstCry introduced various private label brands like BabyHug and CuteWalk. This was a huge step for the growth of FirstCry in India. Here, they could offer better quality products at a competitive price. One of the notable initiatives they started was the FirstCry Box, wherein they partnered with various maternity hospitals and distributed gift boxes that had sample products from various baby care brands. These boxes provided a partnership facility between manufacturers and the customers with FirstCry. The company was getting popularized amongst the new moms due to its wide range of products. The FirstCry’s business model also impacted positively when they acquired BabyOye in 2016, a Mahindra Group brand that focused on baby care. Because of its strategic combination of both online and offline accessibility and great marketing skills, the company was able to bridge a huge gap in the baby care e-commerce in India. This kids retail platform in India is currently one of the leading baby care brands that became a unicorn startup in 2021 due to its strong foundation.
FirstCry’s business model
FirstCry’s business model is the finest example of a seamless amalgamation of both offline and online kids retail platforms in India. The online platform provides a huge contribution toward FirstCry’s success story. As it provides its customers a huge convenience to purchase a wide range of products for kids from the comfort of their home. They have an array of products like school supplies, clothing, toys, footwear, baby food, and baby care, etc.
Well, the growth of FirstCry in India is a result of a huge contribution from its offline store success. They have more than a thousand stores that include many franchise outlets. They operate in various locations in India. Their franchisee model is one of the most rapidly expanding business models, where they partner with local entrepreneurs and expand in various cities. They offer private label brands that have attracted loyal customers and allowed them to diversify the company’s portfolio. The FirstCry Box, an initiative that they started in collaboration with various hospitals, was a huge success. This allowed them to create an early customer relationship. FirstCry’s revenue stream is generated from various channels, the sale of products from both online and offline stores; they also earn revenue from branding and advertising various other brands. Their most successful revenue stream is their franchisee partnership. They also have a strong subscription-based offering where they earn income.
FirstCry’s IPO and current valuation
FirstCry launched its initial public offering on August 6, 2004, with a price set between 450 and 460 per share. Investors were quite surprised when they offered $501 million, but they attracted a total bid of $3.4 billion, which was 19.3 times oversubscribed. This company was listed on the National Stock Exchange of India on 13th August 2024. Currently, the company has a market value of approximately $4.4 billion. This baby care e-commerce in India started with a basic start-up model that absolutely focused on children’s and baby needs. They were able to predict the requirement of an innovative approach for this industry. Founded in 2010, this innovative business was able to seamlessly merge both its online and offline retail channels. The company offered various products focusing on kids’ needs. FirstCry’s success story is especially notable due to its extensive network of physical stores across India with high-quality kids products at competitive pricing. Its success has had an immense impact on India’s baby care industry and has set a higher standard for such products. Today people are more inclined towards buying high-quality products for their kids because of the availability and ease of purchase provided by this brand. FirstCry’s business model is committed to providing quality and focusing on strategic marketing initiatives. It has transformed the children’s product market in India by addressing the needs of modern parents, making FirstCry the leading kids retail platform in India.
