Brainbees Solutions Limited, the parent company of Firstcry, is set to open 350 new brick-and-mortar stores over the next three years.
As per news reports, the new stores will feature a combination of Firstcry and Baby Hug outlets. Firstcry stores generally span about 3,000 square feet and offer a wide range of multi-brand products, while Baby Hug stores are around 1,500 square feet and specialize in the brand’s own products.
Brainbees’ CEO, Supam Maheshwari, shared in the company’s Red Herring Prospectus, “Approximately 74 per cent of our gross merchandise value (GMV) derives from online sales, with around 25 per cent from our more than 1,000 physical stores.” Brainbees runs 1,063 FirstCry and BabyHug stores across India, comprising both company-owned and franchise locations.
The new stores are set to open primarily in non-metro areas to meet the increasing demand for branded mother and baby products in rural regions. Maheshwari also mentioned. “Our future stores might include various formats, such as those targeting specific age groups or exclusive brand outlets.”
Brainbees’ IPO is scheduled to close on 8th August, with the stock exchange listing expected on 13th August. The company reported a revenue of Rs. 6,480.85 crore for the 2024 financial year, marking a 15.06 per cent increase from the previous year, as noted by Train Brains.
