Rare Rabbit, a premium fashion brand, has secured Rs 50 crore in new funding from A91 Partners, raising its valuation to $279 million. The parent company, Radhamani Textiles, issued 23,073 shares at Rs 21,670 each. This follows a Rs 150 crore funding round in June 2024.
Founded in 2015, Rare Rabbit focuses on men’s fashion and has expanded into women’s and children’s apparel. With over 100 stores in India, it competes with brands like Wrogn and Snitch. The company has seen rapid growth, with revenue rising 69% in FY24, while profit surged 2.3 times to Rs 75 crore.
What is Rare Rabbit?
Rare Rabbit is a premium fashion brand that focuses on men’s clothing. It is part of The House of Rare, which also includes women’s apparel under Rareism and children’s wear under Rare Ones. The brand was founded in 2015 by Manish Poddar and Akshika Poddar and operates under Radhamani Textiles Private Limited.
Rare Rabbit offers a range of stylish and high-quality clothing, including shirts, polos, T-shirts, trousers, and jackets. It has expanded its presence both online and offline, with over 100 stores across India. The brand competes with other premium men’s fashion labels like Wrogn and Snitch.
Why is This Funding Significant?
This funding boosts Rare Rabbit’s valuation to $279 million, highlighting strong investor confidence in the brand’s growth. The continued support from A91 Partners, which now holds a 14.17% stake, indicates a long-term commitment to the company.
This Rs 50 crore funding follows a Rs 150 crore round in June 2024, showcasing Rare Rabbit’s steady expansion and financial strength. With over 100 stores across India and a growing online presence, the brand is positioning itself as a major player in premium men’s fashion.
Additionally, this investment strengthens its ability to compete with brands like Wrogn and Snitch, enabling further growth and profitability.
How Will the Funds Be Used?
The newly raised funds will likely be used to fuel Rare Rabbit’s expansion and growth strategies. A significant portion may go toward opening new stores and strengthening its online presence to reach more customers across India.
Additionally, the company might invest in marketing and advertising, as its advertising expenses increased by 45% in FY24, indicating a focus on brand visibility. Part of the funding could also support product development and inventory management, ensuring a wider range of premium apparel.
Lastly, Rare Rabbit may allocate funds to enhance operational efficiency, including technology upgrades and supply chain improvements, to sustain its rapid growth.
Founders’ Perspective
Rare Rabbit’s founder, Manish Poddar, envisions redefining premium fashion by blending innovation with timeless design. He believes the brand’s success lies in constantly evolving styles and pushing creative boundaries.
Poddar also emphasized the importance of staying ahead of trends and adapting to shifting consumer preferences. He believes Rare Rabbit’s strength comes from not relying on constant discounts but instead maintaining a strong premium positioning.
His approach has helped the brand grow rapidly, expanding both online and offline. Looking ahead, he aims to scale Rare Rabbit beyond the Indian market, ensuring its presence in the global fashion industry while maintaining quality, exclusivity, and strong customer engagement.
Key Takeaways
- Increased Valuation – Rare Rabbit’s valuation has risen to $279 million after securing Rs 50 crore from A91 Partners, showing strong investor confidence.
- Continued Investor Support – A91 Partners now holds a 14.17% stake, reaffirming its long-term commitment to the brand.
- Sustained Growth – The funding follows a Rs 150 crore round in June 2024, highlighting Rare Rabbit’s steady expansion.
- Expansion Plans – Funds will be used to open more stores, strengthen online presence, and invest in marketing to boost brand visibility.
- Competitive Positioning – Competing with Wrogn and Snitch, Rare Rabbit continues to dominate the premium men’s fashion space.
Conclusion:
Rare Rabbit’s rapid growth and strong financial performance position it as a key player in India’s premium fashion industry. With a valuation of $279 million and continued investor backing, the brand is expanding both offline and online to meet rising demand.
Its focus on innovative designs, quality, and exclusivity has helped it compete with established names like Wrogn and Snitch. Moving forward, Rare Rabbit aims to scale operations, enhance brand visibility, and explore global markets. With steady revenue growth and a solid business model, the brand is on track to achieve even greater milestones in the coming years.
100+ Stores & Growing – Rare Rabbit’s Fashion Empire Takes Off!
