Firstcry.com has recently roped in Amitabh Bachchan as its brand ambassador and said it may raise funds again next year.Chief executive and founder Supan Maheshwari did not disclose how much the company intends to raise in the fifth round of funding.
The baby and childcare products retailer has so far raised $36 million in Series D funding led by venture capital firm New Enterprise Associates and San Francisco based Valiant Capital. It had received $10 million in the last round earlier this year.
FirstCry, launched in 2010 by Maheshwari and Amitava Saha, is owned by Brainbees Solution, a products supplier for pregnant women and kids. The brand has over 120 brick and mortar stores across the country.
Maheshwari said the company has mandated Lowe Lintas for the advertising campaign, which will include six films featuring Bachchan. It will be released by the end of this week.
The CEO did not say how much FirstCry has earmarked as annual advertising budget, but industry executives ET spoke to pegged it at close to Rs 100 crore.
"An internal research showed that FirstCry was low on awareness despite the fact that repeat purchase on the website is 50 per cent higher than our closest competitor," said Anuj Jain, the company's senior vice-president. "We needed to create maximum impact with the campaign. Amitabh Bachchan brings huge credibility to the brand. He has pan-India appeal and is a doting grandfather."
According to Jain, the company has made six television commercials around the theme "Bachchon ki shopping, Bachchon ki khel nahi" (kids shopping is not child's play), which will run for the next three months. The campaign will also have radio, out-of-home and tactical print legs. The new ad campaign will be handled by Lowe Lintas's Johnson & Johnson team, Maheshwari said.