Premium apparel retailer Rare Rabbit raises Rs 50 crore in funding: Report

Premium apparel retailer Rare Rabbit has reportedly secured Rs 50 crore in fresh funding from existing investor A91 Partners, pushing its valuation to $279 million.

Radhamani Textiles Private Limited, the parent company of Rare Rabbit, received Rs 50 crore for 23, 073 shares, each valued at Rs 21,670. Post transaction, A91 Partners holds a 14.17% stake in the company, Entrackr reported, citing filings made with the Registrar of Companies (RoC).

Rare Rabbit's previous funding

The raise follows a previous Rs 150 crore funding round in June 2024, involving A91 Partners, NkSquared (backed by Zerodha co-founder Nikhil Kamath) and Gruhas, alongside participation from Manyavar founder Ravi Modi’s family trust and Vedant Modi.

Market presence

Founded in 2015 by Manish Poddar and Akshika Poddar, Rare Rabbit focuses on premium men’s fashion under the Rare Rabbit label and has branched out into women’s apparel (Rareism) and children’s wear (Rare Ones) under the parent House of Rare banner.

The startup claims to have expanded both its offline footprint, with more than 100 stores across India, and an online presence to meet surging demand.

By targeting shoppers seeking premium quality, Rare Rabbit has emerged as a competitor to established players in the men’s fashion segment, including Wrogn, which raised Rs 125 crore in backing from Aditya Birla Group’s TMRW House of Brands in June 2024, and Snitch, which raised Rs 110 crore in a December 2023 Series A round.