The two retail players in the baby and kids market in India, FirstCry.com (BrainBees Solutions Pvt Ltd) and Mahindra Retail (BabyOye), have consolidated their business activities to create a dominant presence in this segment.
FirstCry says that it has followed an omni-channel strategy right from inception, having a presence on the web, on mobile and through physical 180 stores spread across the globe.
Mahindra Retail is said to have a strong offline footprint with over 120 stores that are a combination of large format high street and Mall locations and hospital stores, operating under the 'BabyOye by Mahindra' brand.
Anand Mahindra stated, "I believe that the future belongs to click and brick businesses, and that consolidation is the way to thrive and establish industry leadership. We, at the Mahindra Group, are therefore delighted to join hands with an innovative brand like FirstCry and with its CEO, SupamMaheshwari. I am optimistic that this consolidation of the strengths that both groups bring to the partnership will result in a winning proposition.”
Supam, Founder, FirstCry, said, "We are delighted to partner with a prestigious business house like Mahindra, both as a retail brand and as an investor."
Sudhir Sethi, Founder, Chairman and Managing Director of IDG Ventures India Advisors, said “Behind the inspirational leadership of Supam, FirstCry will be the dominant force in the baby and kids products segment and scale-up as a world-class organization. We are all excited to continue our support to FirstCry and delighted to partner with the Mahindra Group as we embark on the next phase of growth.”
Zhooben Bhiwandiwala, President, Mahindra Partners said, “This strategic action sets the stage for significant value creation and the realization of huge synergy benefits across the business and all its stakeholders. It also reinforces our continued belief in the sector and we look forward with great optimism at the possibilities this presents”
Prakash Wakankar, CEO of Mahindra Retail, added his words as, “We see this as a continuation of our mission to stand alongside all women as they begin this very special journey called motherhood. This coming together of Mahindra Retail's unique merchandise, in-store experience and brand relationships with FirstCry's vast product range and online reach will not only bring substantial benefits to consumers but also create significant value for partners.”