My NewBorn is currently focusing on various areas such as making their products available on a number of marketplaces besides Amazon.
October 07, 2021
Bengaluru-based 10club, a new age e-commerce roll up that acquires, operates and grows digitally native businesses has rolled up its first business with My Newborn, a best-selling brand in the baby products category on Amazon. Founded by Mr. Abhishek Jain, a former Chartered Accountant, and his father, Mr. Rakesh Jain (a former film distributor), My Newborn addresses the need for good quality baby care products such as blankets, swaddles, etc.
The idea to start My Newborn came about when the father-son duo was trying to find gifts for a newborn in the family. They realised the gap in the industry and thought that the most convenient way to start their business was by selling on online marketplaces. Despite initial challenges, over four years, My Newborn rapidly scaled its operations and gained the position of number 2 in the baby blanket category. 3 of their products are among the top 10 on Amazon, and their products average a rating of 4.1, given by more than 40,000 customers. The brand operates out of a large 16,000 square feet warehouse in Delhi.
10club comes into partnership with the founders of My Newborn with committed resources, focus and attention to scale the business. With an expert team that brings deep category and e-commerce experience, the 10club team along with Rakesh and Abhishek Jain will focus on growing the business 10x, by leveraging various growth levers.
From the outset, 10Club has been creating ripples in the Indian markets by raising USD 40 million in one of the largest seed funding rounds in South Asia led by Fireside Ventures and an unnamed global investor with HeyDay, PDS International, Class 5 Global, Secocha Ventures and founders of hardware startup boat being the other investors.
Talking about their first strategic acquisition, Mr. Deepak Nair, Co-Founder & COO of 10club said, “At 10Club, we have set out to build high velocity digital native brands by partnering with entrepreneurs who have built strong businesses on market places and have the potential to become category leaders. Rakesh and Abhishek are new generation entrepreneurs who are extremely passionate, with a great understanding of the consumer and have been able to achieve a high growth trajectory for My NewBorn over the years. We are extremely delighted to have Rakesh and Abhishek join us on this exciting journey.”
Speaking about the acquisition, Mr. Rakesh Jain, Founder at My NewBorn said, “We have built a brand in a category that was considered unconventional. However, having gone through the experience that the parents of newborn babies have to go through, we knew there was ample potential for growth. Our persistence has made us one of the category leaders on Amazon and today, we are generating 100% of our revenue from e-commerce marketplace sales. However, we had reached a stage where we needed financial, technical and expertise infusion to take the brand to the next level. 10Club with its incredible expertise and vision has turned out to be just the right growth partner that My NewBorn needed at this juncture.”
My NewBorn is currently focusing on various areas such as making their products available on a number of marketplaces besides Amazon. The brand is also aiming to launch products in adjacent categories and leveraging customer insights to differentiate our products.