Bengaluru: FirstCry reported an 18% increase in revenue to Rs 7,659 crore in the 2024-25 financial year, even as the omnichannel retailer narrowed its loss to Rs 2,648 crore, down from Rs 3,215 crore a year earlier. The company’s India multi-channel business contributed Rs 5,278 crore, up 15% year-on-year, while its D2C brand aggregator Globalbees posted Rs 1,577 crore in revenue, up 30% from the 2023-24 financial yearIn an analyst call on Saturday, CEO Supam Maheshwari acknowledged recent customer experience challenges tied to last-mile delivery, particularly within the India online segment. “Some of our delivery partners faced manpower constraints, which impacted delivery timelines,” he said, adding that FirstCry began piloting alternative logistics models with local partners to reduce delivery windows from six hours to as low as three in select cities. The company plans to expand this model to more locations without increasing costs.Globalbees, which houses several D2C brands, swung to profitability at the Ebitda level, with a margin of 1.4% compared to 0.2% last year.As of March, the company operated 1,156 modern stores, including 527 company-owned stores under the FirstCry and BabyHug formats. Maheshwari said FirstCry’s offline strategy will remain integral to its multi-channel approach. “About 38% of our GMV in the top 20 cities comes from customers who shop both online and offline,” he said. “We’ll continue expanding offline operations in FY26 at a pace similar to FY25, but with greater capital efficiency.” The company reported 18% growth in GMV for its online business in the last fiscal, compared to 11–12% growth in the offline channel. Maheshwari also reiterated FirstCry’s long-term bet on its in-house brands, which now account for over 55% of the platform’s business.
