Firstcry parent company Brainbees to open around 350 India stores in three years, gears up for IPO

Mother and baby retail business Firstcry’s parent company Brainbees Solutions Limited plans to open around 350 new brick-and-mortar stores in the coming three years. The business is on the cusp of its initial public offering which launches on August 6.

The new stores will be a mix of Firstcry and Baby Hug stores, India Retailing reported. While Firstcry outlets measure around 3,000 square feet in general and retail a multi-brand selection of goods, BabyHug stores are sized at around 1,500 square feet and focus on its own brand products.
 
“About 74% of our gross merchandise value [GMV] comes from online while about 25% comes from our over 1,000 stores,” said Brainbees’ CEO Supam Maheshwari in the business’ Red Herring Prospectus, India Retailing reported. Brainbees currently counts 1,063 FirstCry and BabyHug stores in India as a mix of company owned company operated and franchise outlets.
 
Many of the upcoming stores will be in non-metro locations to cater to the growing rural demand for branded mother and baby goods. “In the future, we may set up new stores under other formats,” said Maheshwari. These formats could include stores catering to specific age groups and exclusive brand outlets for numerous labels it stocks.
 
Brainbees’ IPO will close on August 8 before its stock exchange listing on August 13. The business reported Rs 6,480.85 crore in revenue from operations in the 2024 financial year which was 15.06% up from its 2023 performance, Train Brains reported.