Mahindra Retail is all set to rename its Mom & Me brand of maternity and childcare stores with the name Babyoye by Mahindra. This process of renaming is in favor of the website Babyoye.com that was acquired by Mahindra earlier this year.
The renaming of Mom & Me as Babyoye by Mahindra is the first time in the Indian retail market for a firm to adopt the brand name of an online unit for its physical retail store. This indicates the biggest pull that the e-commerce industry is gaining in some segments. Mahindra’s Mom & Me was launched six years back and the company was operating 115 stores with that name.
Regarding this, the company stated that it wants to have a single unified presence of its brand across the channels. As Babyoye has a better power and it resonates better among the young parents who often shop online, the name change was considered.
Prakash Wakankar, the Chief Executive Officer at Mahindra Retail commented regarding the name change. As per his statement, Babyoye brand will bring its larger online presence to Mahindra. On evaluating both the brands – Mom & Me and Babyoye, the latter seemed to be better as it reflects the current trend of the consumers. Mahindra will soon integrate the operations better both online and offline entities to its omni-channel strategy.
Babyoye online will continue to offer a wide range of consumer products, and customers can order and get the product via online. Also, the orders placed on Babyoye can be picked up from the nearest store and returned to the store itself. The executive revealed that the online store of Mom & Me has been shut and integrated with Babyoye.com.
In the last fiscal year, Mahindra Retail gained revenues of Rs 210.5 crore. Also, it incurred a total loss of Rs 118.9 crore. These details were revealed by the annual report of Mahindra & Mahindra.
