Mahindra to rename Mom & Me as Babyoye by Mahindra

Mahindra Retail, which acquired online portal Babyoye.com earlier this year to strengthen its online presence in the maternity and childcare segment, has now decided to rename its stores as 'Babyoye by Mahindra' instead of 'Mom & Me'.

Its online as well as offline stores will now flaunt a new brand name. Mahindra Retail currently operates 115 maternity and childcare stores under the 'Mom & Me'. The idea behind adopting the brand name of its acquired online entity is to go with a name that has a larger recall, is vibrant and connects instantly with today net-savvy generation. The company plans to follow an omni-channel strategy by integrating operations between its online and offline entities.

The company aims to generate revenues of Rs 250 crores by the end of March 2016. It reported a loss of Rs114 crores on revenue of Rs 206 crores for the year ended March 2014, according to documents available with the Registrar of Companies. In August last year, Mahindra brought in Prakash Wakankar from its private equity arm Mahindra Partners to replace K Venkataraman as the Chief Executive Officer (CEO) of the company. He is taking various initiatives to grow the company’s profits.