Mahindra Group has acquired e-commerce venture Babyoye.com, which offers baby and kids products. The deal has been confirmed by an official spokesperson of Mahindra Partners, though the financial details have not been disclosed.
“And Babyoye is now a part of the Mahindra Group. Welcome Babyoye #1500 followers,” tweeted Anand Mahindra, chairman and managing director, Mahindra Group.
Sanjay Nadkarni, founder of Babyoye tweeted: “We are delighted to be a part of the Mahindra family.” A source familiar with the deal reported that after the acquisition babyoye.com domain name is registered in the name of Mahindra Internet Commerce Pvt. Ltd.
Mahindra Retail, which is an arm of Mahindra Group also runs offline retail chain, Mom&Me focused on children and maternity products, and is among one of India’s largest retail stores.
We can estimate the success of Mom&Me stores from the figure that the first store was opened in 2009, and currently there are over 100 stores across 45 cities in India.
The company also launched an online store in December 2011, called momandmeshop.in. Now the acquisition of Babyoye will definitely help Mahindra Retail increase online sales.