Premium Fashion Brand Rare Rabbit’s Revenue Rises To ₹637 Cr In FY24, Profit Soars 134%
Rare Rabbit went through significant financial growth with its operating revenue rising by 69.4% to ₹637 Cr, up from ₹376 Cr in the previous fiscal year.
Leading premium fashion brand, Rare Rabbit went through significant financial growth in FY24, with its operating revenue rising by 69.4% to ₹637 crore, up from ₹376 crore in the previous fiscal year.
The fashion startup’s net profit skyrocketed 134% (2.3x) to ₹75 crore, compared to ₹32 crore in FY23. The brand’s increased sales and enhanced operational efficiencies contributed to this remarkable growth.
The brand Rare Rabbit was founded in 2015 by a former Wipro employee, Manish Poddar, without external funding.
Rare Rabbit is a premium fashion brand, offering a diverse range of clothing, accessories and footwear for men, women and children.
Operated by The House of Rare, the D2C brand is known for its luxury craftsmanship and contemporary designs.
The brand which began with a focus on men’s fashion, has expanded to include women’s clothing through its Rareism line.
Mostly, Rare Rabbit caters to urban professionals and high-fashion enthusiasts.
Recently, Manish Poddar was featured in Nikhil Kamath's WTF podcast. The episode, 'What character flaws make the best entrepreneur' featuring the Rare Rabbit owner highlighted his journey of perseverance and determination.
Co-founder Akshika Poddar introduced the women’s fashion brand ‘Rareism’ under the same Umbrella - ‘The House of Rare’.
The brand’s revenue primarily stems from product sales, supplemented by ₹5 crore in interest income, bringing the total income for FY24 to ₹642 crore.
Rare Rabbit has raised approximately $24 million in funding to date, including a recent ₹50 crore investment from A91 Partners, its lead investor. [Source: TheKredible]
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