FirstCry gives out a million gift-boxes to mothers
As part of its new micro-marketing strategy, FirstCry, the online retailer of babycare products, is giving out 1 million gift boxes to new mothers. The Pune-based company will continue this campaign in perpetuity and hopes to reach 1,25,000 new mothers every month. It will also provide them vouchers. The company has spent Rs.20 crore on this initiative and has partnered with 7500 hospitals.
Tapping the market for baby products
FirstCry.com is an online retailer in baby care products and was founded in December 2010 by Supam Maheshwari and Amitava Saha. FirstCry has products such as "diapers, toys, toiletries, strollers, apparel and footwear as well as books and toys for children up to the age of 15 years". The company makes 20% of its sales through mobile based orders.
400 brands in FirstCry's kitty
FirstCry has over 70,000 products in its range with 400 international and Indian brands such as Mattel, Ben10, Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, Fisher Price and Mee Mee.
Company growing from strength to strength
FirstCry has expanded its offline presence to 21 cities and has opened as many as 26 stores in 11 cities. Started with a seed capital of Rs.2.5 crores, the company is thriving by keeping the costs low. The CEO said that FirstCry had an "in-house developed point-of-sale IT system" that helped the company save as much as Rs.1 crore on third party providers.
FirstCry 100 stores strong
FirstCry's owner BrainBees Solutions Pvt Ltd, declared that it was now operating more than 100 stores across 82 cities. The company's co-founder Supam Maheshwari said it was hoping to add another 100 by 2015. The company which has been adding 8 stores a month, hoped to surpass Mahindra Group's ('Mom & Me') 110 stores.
Same day delivery introduced
Baby care portal FirstCry has started its 'same day delivery' and 'next day delivery' service in almost 75 cities across the country. 15 cities have been provided with the same day delivery while 60 cities have the next day delivery option. The services are being provided through partnership with the logistics player XpressBees. The service covers all basic baby products and essentials needed everyday.
The investment story
SAIF Partners invested $4 million in 2011, and then in 2013 $14 million led by IDG Ventures and SAIF Partners. FirstCry received Rs.92 crore funding in its third round from Vertex Venture Management. SF-based hedge fund Valiant Capital Partners put in $26 million in Series-D round. In August 2015, FirstCry received another $10 million from New Enterprise Associates (NEA) and Valiant Capital.
Amitabh Bachchan roped in as FirstCry ambassador
FirstCry signed on Amitabh Bachchan as its brand ambassador who launched the ad campaign on 17 July 2015.
