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FirstCry Acquires Mahindra’s BabyOye for Rs. 362.1 cr

Chinmay Bidkar by Chinmay Bidkar
October 15, 2016
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firstcry.com

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

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Tags: acquisitionAnand MahindraBabyOyeFirstCryMahindra and Mahindra
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Chinmay Bidkar

Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- chinmay@techstory.in

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