Indian entrepreneur and visionary, Supam Maheshwari, has etched his name in the annals of business history through his unwavering commitment to innovation and his pioneering ventures. At the helm of FirstCry, the largest baby and mother care products manufacturer in India, Maheshwari has spearheaded a revolution in the e-commerce sector. From the foundations of education to the heights of corporate triumph, his journey is a testament to entrepreneurship’s transformative power.
Supam Maheshwari is a first-generation entrepreneur who first co-founded a company called Brainvisa Technologies with Amitava Saha. However, the venture was sold, and he then created FirstCry via BrainBees. FirstCry received the Most Popular Online Site award at the 2013 Child Awards in Delhi. He is also a co-founder of the logistics service firm Xpressbees.
Early life
Maheshwari received his formal schooling at Apeejay School. He graduated from Delhi College of Engineering with a degree in Mechanical Engineering. He subsequently went on to study at IIM-Ahmedabad for a PGDM.
Unlike his peers who sought high-paying jobs, he ventured into uncharted territory, co-founding Brainvisa Technologies in the year 2000 alongside Amitava Saha. The company quickly gained recognition as a prominent e-learning startup, becoming one of India’s largest e-learning companies.
However, Maheshwari’s entrepreneurial ambitions did not end there. In 2007, Brainvisa Technologies was acquired by the US-based Indecomm Global for a substantial sum of $25 million. This marked a pivotal moment in his journey, propelling him to envision new opportunities.
The Birth of FirstCry
Supam Maheshwari’s inspiration to create FirstCry stemmed from his personal experiences as a parent seeking quality baby care products for his own child. Recognizing the dearth of variety and quality in the Indian market, he saw a chance to revolutionize the way parents shop for their children. In collaboration with Amitava Saha, he launched BrainBees Solutions and its flagship brand, FirstCry, in 2010.
With an initial seed funding of Rs 2.5 crore from their personal savings, Maheshwari and Saha embarked on a mission to provide superior baby and kids products to Indian parents. The company started as an online baby care retailer but quickly expanded its reach by establishing offline stores across the country.
Success
FirstCry started as an online baby care retailer, swiftly gaining momentum and popularity. However, Maheshwari’s vision transcended the digital realm, and he expanded operations to include offline retail stores.
The success of FirstCry can be attributed to its innovative approach and commitment to excellence. The brand’s unique name, “FirstCry,” strategically conveys the significance of baby care and essentials.
Beyond its online and offline presence, FirstCry has made strategic moves by introducing private labels such as BabyHug and CuteWalk, catering to apparel and footwear needs for babies and kids. The company’s innovative strategies have not only earned it recognition but have also elevated it to the status of a unicorn, with an estimated valuation of $1.9 billion.
Venturing into new brands
The company’s two private labels, BabyHug and CuteWalk, illustrate Maheshwari’s commitment to diversification and quality. Over 350 franchised brick-and-mortar stores across 125 Indian cities, combined with a robust online presence, solidify FirstCry’s status as a leader in the baby care market.
Net worth and personal life
His current net worth is estimated to be $190 million. Despite his relentless commitment to building successful ventures, Supam Maheshwari finds time to maintain a balance between his personal and professional life. An avid reader and a squash enthusiast, he embodies the philosophy of holistic success. Currently residing in Pune with his wife and daughter, Maheshwari’s journey as an entrepreneur is deeply rooted in his own experiences as a father seeking the best for his child.
Philanthropy
Supam Maheshwari’s legacy is not confined to business success alone. His influence extends to philanthropy, with FirstCry’s partnership with 600 hospitals to provide new mothers with FirstCry boxes.
Fundings
Xpressbees raised INR 85 crore after being surrounded by FirstCry investment. In a second investment round in February 2022, Xpressbees was valued at $1.2 billion. It has achieved the status of Unicorn Startup.
Mahindra Retail owned 10.48% of FirstCry in 2021, while Mahindra Engineering and Chemical Products, another Mahindra company, held 3.11% preferred shares. Motivated to sell its investments in FirstCry parent BrainBees, Mahindra Retail has obtained board clearance to sell up to 2% of its stakes in BrainBees via an Offer For Sale (OFS), which will be part of the company’s IPO. Mahindra initially purchased BabyOye and combined it with FirstCry, and it was at that time that the business bought a minority share in BrainBees.
