Rare Rabbit, a homegrown luxury apparel brand, surpassed the US $ 71 million revenue milestone in FY ’24 and more than doubled its net profit.
Radhamani Textiles, a Bengaluru-based company that owns the women’s and men’s fashion brands Rareism and Rare Rabbit, ended FY ’24 with operational sales of US $ 75.76 million, a 69 per cent increase from the previous year.
According to the company’s financial papers, which were obtained from Tofler, its net profit increased to US $ 8.92 million in the year that ended in March 2024 from US $ 3.8 million in FY ’23.
These figures highlight the brand’s impressive expansion in FY ’24, which coincided with a dip in macroeconomic consumption that affected a number of other fashion firms that had scaled up.
In addition to Rareism and Rare Rabbit, the company’s major brand, Radhamani Textiles also offers Articale, a line of casual clothing. Akshika and Manish Poddar, a husband and wife team, founded the business in 2015. Akshika oversees Rareism, while Manish serves as Rare Rabbit’s creative director.
Rare Rabbit actively increased the number of its stores during the year, with the offline channel accounting for the majority of its sales.
In India, the brand has more than 150 outlets. In addition to metro areas like Delhi, Bengaluru, Mumbai, Hyderabad, and Chennai, several of these may be found in Tier-2 and Tier-3 cities like Ahmedabad, Bhopal, Dehradun, Ranchi, Guwahati, and Vijayawada.
