FirstCry is an Indian online retailer specializing in baby goods. Pune serves as the company’s headquarters. It was founded in 2010. The company operated approximately 900 FirstCry and BabyHug outlets in India as of June 2023.
First Cry Origin story
The Mahindra Group’s BabyOye was purchased by FirstCry in 2016 for ₹362 crore (US$53.87 million). The combined company conducted operations under the name FirstCry.com, a FirstCry Mahindra Venture. FirstCry opened its first facility in Srinagar in May 2019.
The concept originated in 2010 when few options were available in India for buying baby care and kid-related products online. When on business trips, Supam, the co-founder and owner of FirstCry, would purchase things for his child. Because of the situation, he realized there were a ton of opportunities in the Indian market for an online marketplace that would offer Indian parents access to the top baby care brands worldwide. In this way, Supam Maheshwari and Amitava Saha established FirstCry.
Initially, FirstCry used an inventory-based business model, merely shipping products from warehouses in Pune, Bangalore, Delhi, and Kolkata nationwide. A few years later, FirstCry started to include stores on its platform, allowing nearby companies to list their goods for sale online.
FirstCry Company Details
| Company Name | FirstCry |
| Origin Country | India |
| Founded | 2010 |
| Founder | Supam Maheshwari |
| CEO | Supam Maheshwari |
| Headquarters | Pune, Maharashtra, India |
| Industry | E-commerce, Baby and Kids Products |
| Key Offerings | Baby and Kids Clothing, Toys, Diapers, Gear, Furniture, Feeding Essentials |
| Number of Products | Over 200,000 (as of last update) |
| Number of Employees | Over 10,000 (as of last update) |
| Official Website | www.firstcry.com |
Business Plan
FirstCry uses an integrated hybrid business strategy that combines traditional and online retail locations. By switching from having brick-and-mortar storefronts to a click-and-purchase model, Firstcry has closed the gap between supply and demand in the baby care sector. This move is regarded as an inventive business approach. Firstcry.com employs a mixed business strategy. Thus, in addition to its web presence, Firstcry.com operates more than 100 franchise locations around India.
As of July 2023, the company had over 400 locations, including 350 franchise stores around India, in addition to its enormous online presence. According to a news article in 2022, FirstCry has a special program that allows it to distribute a “FirstCry Box” to over 70,000 parents each month.
Through this initiative, new parents in 6,000 hospitals nationwide receive complimentary gift boxes as a mark of appreciation for the birth of their child. Essentials, including diapers, baby oil, lotion, and other items from reputable brands like Mamy Poko and Libero, are included in the package. Through this effort, FirstCry has reached out to millions of parents in India.
Social media channels are Firstcry’s face of promotion. FirstCry started to include stores on its platform and allowed nearby companies to list their goods for sale online.
Revenue Model
FirstCry’s operating revenue was mostly derived from product sales, which brought in Rs 5,519 crore. The Pune-based company’s overall expenses for FY23 were Rs 6,315 crore, representing a nearly 150% increase over Rs 2,568 crore from the previous year. FirstCry is an online and physical retailer of products for moms and babies.
The commencement of the pandemic may be primarily responsible for the rise in sales. As the pandemic forced the Indian government to implement lockdowns, increasing individuals turned to e-commerce for their daily shopping needs.
Growth and Revenue
From $73.59 million (INR 535 crore) in FY 2019 to $122.07 million (INR 887.5 crore) in FY 2020, FirstCry’s revenue climbed by 65.8% in FY20.
Although the company’s revenue has undoubtedly increased annually, the Supam Maheshwari-led business thrived from the FY21 financials. The Pune-based newborn and kids marketplace turned a profit of Rs 215.94 crore in April 2022, compared to a loss of Rs 190.8 crore in the same period the year before, according to documents dated April 4, 2022. Consolidated sales for the company rose to Rs 1740 crore this year, a 141.3 percent gain.
Conclusion
FirstCry is a real example of how you can carve out a niche, survive, and prosper in a fiercely competitive business. Firstcry has started attempting to incorporate the sophisticated strategy used on their websites into brick-and-mortar retailing to increase sales.
Meet Suhas Harshe, a financial advisor committed to assisting people and businesses in confidently understanding and managing the complexities of the financial world. Suhas has shared his knowledge on various topics like business, investment strategies, optimizing taxes, and promoting financial well-being through articles in InvestmentDose.com
