FirstCry doubles ad spends in FY 2019-20
The brand has allocated Rs 16 crore for advertising in this financial year
FirstCry, the online store for baby and kids’ products, has doubled its advertising spends to Rs 16 crore in FY 2019-20 from Rs 8 crore in the previous fiscal, shows financial data accessed by business intelligence platform, Tofler. The brand has also got Amitabh Bachchan to play a doting grandfather and has been in the limelight ever since.
Furthermore, FirstCry has reported its revenues for the financial year 2019-20 as Rs 888 crore, a 66% jump from the last financial year. The company also posted a net loss of Rs 163 crore during the same fiscal, an 83% decrease from the last financial year. The company’s total expenses for the fiscal stands at Rs 1,051 crore.
Going by recent reports, FirstCry has raised $428.4 million in eight funding rounds, including $148.12 million secured from SoftBank in February this year, and counts Mahindra Rise, Temasek and Kris Gopalakrishnan among its 14 investors, according to Crunchbase. According to the company portal, it has over 2 lakh unique products across 6,000 brands and more than 400 stores in Bengaluru, Hyderabad, Pune, and Delhi. The company has claimed to been engaging with 13 million ‘unique parents’ every month.
Launched in 2010 by Supam Maheshwari and Amitava Saha, FirstCry is owned by Brainbees Solution, a supplier of products for pregnant mothers, baby care and kids. The brand also has a brick and mortar avatar and has over 120 stores across India. FirstCry acquired BabyOye retail brand from Mahindra in 2016 followed by launching FirstCry Parenting service in 2017. It also forayed into the UAE market in 2019.
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