Rare Rabbit, a premium apparel brand, has secured an equity investment of Rs 150 crore from several investors including A91 Partners, Nikhil Kamath’s NKSquared, Gruhas Proptech, Ravi Modi Family Trust, and Vedant Modi, as disclosed in a regulatory filing.
Radhamani Textiles Private Limited, Rare Rabbit’s parent company, received Rs 102 crore from lead investor A91 Emerging Fund II LLP (representing 9.65% share capital), while NkSquared contributed Rs 29 crore (4.13%). Ravi Modi, founder of the ethnic wear brand Manyavar, and his son Vedant Modi, through Ravi Modi Family Trust, injected Rs 15 crore (2.13%) and Rs 2.9 crore (0.43%) respectively into the apparel brand.
According to market intelligence firm Tracxn, Rare Rabbit reported revenues of $47.5 million and a net profit of $4.02 million for the financial year ending March 31, 2024. Established in 2005, Rare Rabbit specializes in men’s shirts, trousers, jackets, and shoes, and is part of The House of Rare, which also owns the women’s clothing brand Rareism. The brand competes with other apparel companies such as Bombay Shirt Company and Snitch.
