A baby clothing company.
It represents a happy baby.
Online baby clothing shop.
To me it does not represent a happy baby at all. The two dots on the y made me think it was some foreign punctuation. The kerning of the word baby is wrong. The font type of the dress does not work together with the baby font.
Sorry, Oscar is right about everything. The "Y" looks like some sort of horse harness. Making the "Y" a different color is strange unless the company is Bab Y Dress.
This is wrong in many aspects. Keep the idea of the playful font alive, but choose carefully a professional font with good proportions. Colors are not so bad but in this contect it doesn't even matter anymore, the whole logo looks bad and you need to get to the boarding table.
I agree with the above... choose a "chubby" and funny font.
Definitely agree with everything above- the umlaut on the 'y' is super confusing (and it does kind of remind me of a horse harness, 2423!) and I'm not sure why the 'y' is a different color than the rest of it!? In any case, pick a different font (a chubby/funny one like geracao suggested), get rid of the umlaut, make the word all one color and then see where you stand!
Throw it out and start over. Sorry, but there's nothing salvageable here.