Nitin Agarwal, CEO of GlobalBees, the house-of-brands division of FirstCry, has resigned citing personal reasons, according to a stock exchange filing by the baby-and-mother-care retailer on Friday. His resignation takes effect on May 23, 2025, and he has also stepped down as a director of GlobalBees.
Anuj Jain, chief business officer of FirstCry’s preschool division and senior vice president of marketing, will succeed him.
“We wish to inform you that Mr Nitin Agarwal, senior management personnel of Brainbees Solutions Limited, and chief executive officer and director of GlobalBees Brands Private Limited, has tendered his resignation via a letter dated April 24, 2025, due to personal reasons,” the company stated in the filing.
According to the regulatory disclosure, Agarwal formally resigned as director of GlobalBees and as senior management personnel of Brainbees Solutions on April 24. He will continue to support transition activities until May 23, 2025.
Agarwal, an IIT Delhi alumnus, co-founded GlobalBees in April 2021 with FirstCry co-founder and CEO Supam Maheshwari; the company achieved unicorn status by December of that year. He previously held roles at InCred, Citibank, and Edelweiss Financial Services Limited and currently serves as senior vice president in marketing.
His departure occurs amid a series of high-level exits at the child-focused company in recent years.
FirstCry Financials
GlobalBees Brands, a Thrasio-style direct-to-consumer (D2C) venture by FirstCry, was established in 2021 by Supam Maheshwari and Nitin Agarwal with an initial US $75 million investment.
It operates on a house-of-brands model, acquiring and consolidating D2C labels in beauty, personal care, fashion, and other lifestyle categories. FirstCry holds a 50.7 percent stake in GlobalBees, which manages 15 brands across home utilities, appliances, apparel, and personal care.
GlobalBees’ operating revenue grew 13 percent year-on-year in the quarter ending December 2024, reaching ₹422 crore. This marked a slowdown from the 55 percent growth recorded in the second quarter of FY25. During the October–December earnings call, FirstCry CEO Supam Maheshwari attributed the deceleration to greater marketplace sales through e-commerce platforms, which now account for the majority of GlobalBees’ revenue.
