Firstcry stores hit a century, to open 100 more

Launched as an e-commerce platform exclusively dedicated to kidswear and kids’ accessories, the four-year-old company Firstcry.com has surpassed its own record of 100 physical stores. The company now aims to expand its reach by opening 100 more stores in the country.

Firstcry has been focusing on the expansion of its retail network in smaller towns like Ambala, Bhilai, Srikakulam and Bhagalpur, where customers prefer buying at the stores than online. The company expects to earn Rs 50 crores from offline stores this fiscal. This hybrid strategy has worked for others like Reverse Logistics Company, which runs refurbished products retailer Greendust. The company sells through its online site and through 250 franchise stores. The brick-and-mortar stores, located mostly in smaller towns, account for 70 percent of its sales.

Apart from Firstcry, others online players like nutrition and fitness products retailer Healthkart, eyewear seller Lenskart and web-only fashion brand DonebyNone are also scaling up their offline presence. Estimated at 2.3 billion dollars (over Rs 14,000 crores) at present, online retail accounts for just 0.4 percent of the overall retail market in India, according to retail advisory firm Technopak. By 2019, the e-tail market is expected to reach between 19 billion dollars (over Rs 1.14 lakh crores) to 38 billion dollars (Rs 2.28 lakh crores), accounting for 2 percent to 4 percent of the overall retail industry.