Indian fashion industry ka agla bada naam - Rare Rabbit! 🐇
Kaise ek Bengaluru-based brand ne 131% profit growth achieve ki aur premium brands ko takkar di? 🧥
Story behind their success, innovation, aur investor ka support! 👔
Kaise ek Bengaluru-based brand ne 131% profit growth achieve ki aur premium brands ko takkar di? 🧥
Story behind their success, innovation, aur investor ka support! 👔
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LifestyleTranscript
00:00Bangalore-based fashion brand, The House of Rare, which runs its popular brand, Rare Rabbit,
00:21has taken a huge leap in the Indian fashion industry.
00:26The net profit of this company has increased by more than double.
00:29Its parent company, Radhumani Textiles, earned a profit of Rs. 74.5 crores in FY24,
00:36which is a growth of 131% since last year.
00:39Today, in this episode of First Say Fashion, we will learn the secret of Rare Rabbit's success
00:43and why Zerodha's co-founder Nikhil Kamat has also supported it.
00:47And that too when other competitors are going at a loss.
00:51Like Aditya Birla's lifestyle segment of fashion and retail,
00:54which handles premium brands like Louis Philippe, Alain Soli, and Van Heusen,
00:59their revenue has fallen by 1% compared to FY23.
01:03The House of Rare has focused on its expansion and growth.
01:07In 2015, this brand started by Manish Poddar and Akshika Poddar,
01:12operates three major brands today.
01:15Rare Rabbit for men's wear, Rarism for women's fashion,
01:19and Artikian for daily wear or as a leisure.
01:22All these come under Kolkata-based Radhumani Textiles.
01:26Initially, Radhumani Textiles was an apparel manufacturer,
01:30which mainly exported to international markets.
01:33This company supplied globally known brands,
01:36including European fashion giant Inditex, which is owned by Zara.
01:41As trends changed, Radhumani Textiles decided to launch its own brands
01:46and found a new way to reach the consumer directly.
01:50Rare Rabbit, which was the first brand of the House of Rare, came up with a new idea.
01:55Its aim was to separate men's fashion from traditional whites and grey.
02:01This brand celebrates men who like to go beyond traditional thoughts.
02:06Manish Poddar, who has 12 years of experience in Zara and Jack and Jones,
02:11took inspiration from European stores in designing and manufacturing
02:15and introduced this unique style to India.
02:18Rare Rabbit not only gives clothes, but also gives experience,
02:22which includes world-renowned items,
02:25such as Tuscany's leather-like paper luggage,
02:28Japan's imported eyewear, New York's store design,
02:32and Spain's conceptualized store fragrance.
02:35Today, Rare Rabbit has more than 180 stores in India,
02:39and they offer a broad range of shirts, jackets, suits, trousers, and jeans.
02:44They have also launched a brand called Rare Ones for children.
02:47Their stores are not only in metro cities, but also in tier 2 and tier 3 cities,
02:52which the brand is helping in penetration.
02:55The company's revenue is also growing very fast.
02:58The House of Rare's operating revenue jumped 69% to 637 crores in FY24,
03:07and their total revenue, including other income,
03:10has increased by 1.5 times since last year.
03:13Expenses are also increasing with revenue,
03:16but the increase in revenue is more than expenses.
03:19The company's total expenditure is 60%.
03:22The company's total expenditure has increased by 60% to 542 crores,
03:27which is due to some important investments.
03:30The biggest expense was of materials,
03:32because this is an omnichannel clothing brand.
03:35In FY24, the material cost was 208 crores,
03:40which is 53% more than FY23.
03:43There was also a major spend in advertising,
03:46which increased by 46% to 93 crores.
03:49The employee cost also doubled to 78 crores,
03:53which shows the growing workforce.
03:57The fast growth of the House of Rare also attracted the interest of investors.
04:02This brand closed its first institutional funding round,
04:05in which it raised Rs. 500 crores from
04:08A91 Partners, Zerodha's co-founder Nikhil Kamat,
04:12and Maniyavar's founder Ravi Modi's family office.
04:15In this round, the company's valuation reached Rs. 2600 crores.
04:20Due to growing disposable income,
04:22there are many chances for this market to grow.
04:25And that's why brands like Damings, The Soul Store, and XYXX
04:30are also in competition.
04:32The House of Rare is standing out with its high-quality products,
04:35unique style, and international appeal.
04:38This success story of the brand is not just a journey,
04:41but an example of a new thought and innovation,
04:44which is taking the Indian fashion industry to a new level.
04:48Are you also experimenting with your fashion?
04:51Tell us in the comments.
04:52And like this video and subscribe to the channel.
04:55See you in the next video.
04:56Bye.
04:59♪