The House Of Rare
Rare Rabbit is a premium & luxury brand that offers designer wear for men and women who love exclusive, luxury, and international designs.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor | €0.0 | round | |
$5.8m Valuation: $279m | Late VC | ||
| Total Funding | 000k | ||
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The House of Rare operates as an omnichannel fashion company in the Indian retail market, positioning itself in the affordable luxury segment. The company was founded in 2015 by the husband-and-wife duo, Manish and Akshika Poddar, under the parent company Radhamani Textiles. Manish Poddar's family background in textiles provided a foundational understanding of the industry, which he combined with insights from European fashion trends to establish the brand. The journey began with the launch of the men's apparel brand, Rare Rabbit, and its first physical store in Bengaluru.
The company's business model is vertically integrated, encompassing design, manufacturing, and retail, which allows for greater control over the supply chain and cost efficiencies. Revenue is generated through the sale of apparel and accessories via its expansive network of physical stores and its direct-to-consumer (D2C) e-commerce website. The House of Rare operates primarily through two main brands: Rare Rabbit, which caters to men with products like shirts, trousers, jackets, and footwear, and Rareism, its counterpart for contemporary womenswear. Recently, the company has diversified its portfolio by launching Rare Ones, a line dedicated to children's apparel. The target clientele is the fashion-conscious urban Indian consumer who seeks premium, international designs.
The product strategy focuses on offering European fashion sensibilities adapted for the Indian market, filling a gap between high-street and high-end luxury brands. Significant milestones include a rapid physical expansion to over 170 stores across metropolitan, Tier II, and Tier III cities in India. Financially, the company has demonstrated robust growth, with operating revenue increasing by 69% to ₹637 crore in FY24 from ₹376 crore in FY23. Net profit more than doubled during the same period, reaching ₹74.5 crore in FY24. The company has also attracted external investment, securing funding from A91 Partners, which has increased its stake in the firm.
Keywords: affordable luxury, menswear, womenswear, Indian fashion, apparel retail, omnichannel fashion, Rare Rabbit, Rareism, Manish Poddar, Akshika Poddar, direct-to-consumer, premium apparel, fashion manufacturing, Indian retail, clothing brand, footwear, fashion accessories, Radhamani Textiles, kids wear, lifestyle brand