Strong Offline, Online Growth Helps FirstCry Feature In Top 100 List
BY arpita srivastava
Strong Offline, Online Growth Helps FirstCry Feature in Top 100 list
Pune-based kids store FirstCry emerged as one of the Top 100 brands in the Franchise 100 list 2020 published by The Franchising World magazine recently. With its high franchise focus, the brand performed well on the parameters and was upgraded to the ‘established’ brands category in the current list from the ‘emerging’ category in the previous list.
The Franchise 100 list recognizes the Top-100 fastest growing franchise brands and is considered as the most esteemed honor for franchise businesses in India. The list puts forth the best franchise opportunities for 2020 after analyzing the leading franchisors on the basis of franchise ecosystem size and growth, financial strength and growth, and support offered to franchise partners.
Founded in 2010 by Supam Maheshwari and Amitava Saha, Firstcry offers different categories of baby and kids products from clothing to school essentials. The company has expanded its user base to over 7.5 million and has a retail footprint of over 400 stores spread across 125 cities. The company has maintained that it offers over 2 lakh baby and kids products and carries more than 5,800 brands.
The company posted revenue of Rs 535 crore in FY19, which it expects to grow to around Rs 2,000 crore in the current financial year. FirstCry had acquired BabyOye’s franchise business from Mahindra for $54 million in 2017.
As part of its diversification drive, the company acquired Oi Playschool in November last year. The company now eyes to expand its playschool portfolio to more than 1,000 centres across the country in the next five years.
While the startup recently raised $150 mn from Soft Bank, it has raised about $125 million from investors such as IDG Ventures India, SAIF, Valiant Capital, Ratan Tata, Vertex Venture, and NEA. FirstCry joined the unicorns club with its latest round of funding.
The Franchising World, India’s no.1 franchising magazine, identifies the Top-100 franchise brands and celebrates their achievements every year in its anniversary issue. The issue highlights the established and emerging Indian and global brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable, expanding fast and can act as a reference guide for budding entrepreneurs and investors across India.
Franchise 100 is the one-stop destination to know everything about the franchise industry and the leading brands, which investors and prospective franchisees can consider to start their entrepreneurship journey.