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Firstcry registers 66% jump in FY 20 revenues

Insight Hits: 2278
Insight Hits: 2278

India’s largest omni-channel platform for kids Firstcry witnessed strong sales during the year with revenue jumping 66 percent to Rs 887 crore from Rs 535 crore it reported during FY19.

The e-seller also managed to narrow its net loss by 83 percent to Rs 163 crore ($22 million) for the fiscal year 2020, as against a net loss of Rs 933 crore it had reported in the last financial year.

Firstcry’s total expenses for the year also decreased 28 percent to Rs 1,050 crore, as against Rs 1,469 crore in FY19.

Launched in 2010, Firstcry has already earned the tag of being Asia’s largest online store and currently expanding offline to further strengthen its hold over the children’s wear market. It currently has over 400 stores across India.

The company is backed by Japanese investor Softbank and sells over 2 lakh unique products across 6,000 brands. It competes with Hopscotch along with other e-commerce giants including Flipkart and Amazon in the kids segment.

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