Chinmay Bidkar
13 October 2016, India :
One of the top online baby products seller Firstcry is acquiring Mahindra Retail, which runs offline stores under Babyoye brand, for about Rs. 362.1 crore in a landmark deal in the Indian retail market.
FirstCry is Asia’s Largest Online Portal for Baby and Kids Products. It has over 2 Lacs Baby and Kids’ items from 2 thousand plus top International and Indian brands!
“I believe that the future belongs to click and brick businesses, and that consolidation is the way to thrive and establish industry leadership. I am optimistic that this consolidation of the strengths that both groups bring to the partnership will result in a winning proposition. We are hugely excited by the possibilities,” Anand Mahindra, chairman and managing director of the Mahindra Group, said in a statement.
Pune-based startup Founded by Supam Maheshwari in 2010, follows an omni-channel strategy and operates about 180 brick and mortar stores, while BabyOye operates about 120 stores. Post the merger, the combined entity will be called FirstCry.com-A FirstCry Mahindra Venture, and will have its footprint across 300 physical stores in 125 cities.
Babyoye brings to you the largest online store as well as 100+ offline stores in India with a wide range of kids & baby products for sale at the best prices. It has the best brands from India and abroad. Source- Livemint