GlobalBees Brands has increased its ownership in Candes Technology to 92 percent following the acquisition of an additional 30 percent stake, reinforcing its strategic push into the consumer electronics segment. The transaction, executed as a cash deal at ₹37,250 per share, was completed on March 31, 2026, and elevates GlobalBees’ holding from 62 percent to a near complete controlling stake. The move is aimed at strengthening its position within the fast growing electronics and appliances category, where Candes operates across products such as electrical equipment and audio visual goods.
The acquisition signals GlobalBees’ continued focus on building a diversified portfolio of digital first brands by increasing ownership in high potential categories. By consolidating its stake in Candes, the company gains greater operational control and flexibility to scale the business, streamline decision making, and drive synergies across its broader ecosystem. The company also clarified that the transaction does not qualify as a related party deal and did not require any regulatory approvals, indicating a straightforward execution process.
Parent entity Brainbees Solutions, which operates the FirstCry platform, continues to invest in expansion initiatives, although this has impacted its near term profitability. In the third quarter of FY26, Brainbees reported a significant increase in net loss to ₹38 crore, compared to ₹14.7 crore in the same period last year. The rise in losses has been attributed primarily to higher spending associated with scaling its rapid delivery capabilities and broader operational expansion.
Despite the increase in losses, the company reported steady growth in its top line. Operating revenue rose by 11.6 percent year on year to ₹2,423 crore in the December quarter, up from ₹2,172 crore in the corresponding period of the previous year. However, this growth was accompanied by a 12.7 percent increase in expenses, which climbed to ₹2,327 crore, reflecting the cost pressures associated with expansion and infrastructure investments.
The latest stake increase in Candes comes at a time when GlobalBees is actively strengthening its presence across multiple consumer categories, particularly those with strong online demand and scalability potential. Electronics and appliances represent a key growth area within India’s ecommerce landscape, driven by increasing digital adoption, rising disposable incomes, and demand for affordable, branded products.
Overall, the transaction underscores GlobalBees’ strategy of deepening its investments in select portfolio brands while building category leadership through higher ownership and operational integration. At the same time, Brainbees’ financial performance highlights the trade off between growth and profitability, as the company continues to invest aggressively in expanding its ecosystem and enhancing customer experience.
