Carrying A Growth Mindset
How did 2022 pan out for All Things Baby in terms of revenues?
Post-pandemic, with the economy opening up, 2022 has been a year of high growth at All Things Baby. We grew 100 per cent YoY, clocking Rs 25 crore in revenue during FY22. This growth was also fueled by our increased product assortment, where we grew from 2 to 20 exclusive baby brands in our portfolio over the last two years, expansion of our customer base and launch of our loyalty programme to ensure retention and larger cart values.
What were some of the challenges your company faced in 2022 and how did you deal with them?
We faced forex volatility in 2022. This put a lot of stress on our import-driven distribution business which in turn pressurised our overall gross margins. To maintain the equilibrium and compensate for volatility, we consciously fueled and scaled up our D2C business allthingsbaby.com.
On the personnel front, retaining talent post-pandemic, especially as a bootstrapped startup was another key challenge we faced. With employees having discovered newer ways of living and working, we quickly adapted to offering more flexible work options with a deeper focus on deliverables and productivity over attendance and discipline.
What are your plans for 2023?
We believe 2023 will be a pivotal year for us. Expanding our omni-channel presence will be crucial as many new parents want to touch and feel the products, especially when it comes to baby gear and nursery furniture before making a purchase. Our newly launched All Things Baby Nursery in our headquarters in Mumbai is a step in that direction.
Next year, we plan to increase our retail footprint through ‘Shop in Shops’ at a few key retail outlets and All Things Baby Experience stores. Enhancing our technology to fuel content-driven commerce is another key initiative we intend to take on.
To be able to achieve all of this we would be looking to raise investments from relevant partners in 2023.
