Bengaluru-based fashion brand The House of Rare, which owns popular menswear label Rare Rabbit, has established itself as a notable player in India’s premium fashion market. Founded in 2015 by Manish and Akshika Poddar, The House of Rare has grown steadily, thanks to a unique approach to men’s style that emphasizes global influences and experimental designs. Rare Rabbit, along with its sister brands Rareism (for women) and Articale (for everyday wear), caters to a growing base of style-conscious Indian shoppers, with revenue generated from online and offline sales of apparel, shoes, and accessories.
For the financial year ending March 31, 2024, Rare Rabbit’s parent company, Radhamani Textiles, posted a remarkable net profit increase of 131%, reaching INR 74.5 crore from INR 32.2 crore the previous year. Operating revenue rose by an impressive 69% to INR 637 crore from INR 376 crore in FY23, with total revenue hitting INR 641.8 crore—an overall 1.5X jump compared to the prior fiscal year. These financial achievements come as The House of Rare expands into Tier II cities like Bhopal, Dehradun, and Alappuzha, reflecting the growing appetite for quality, premium fashion across urban India.
Manish Poddar founded Rare Rabbit with a specific vision: to offer men a stylish alternative to conventional office wear. Rare Rabbit’s appeal lies in its sophisticated and eclectic styles, which have helped redefine men’s fashion in India. Inspired by European aesthetics, Poddar initially scouted stores across Europe, seeking to create products that reflect a unique blend of quality and modern masculinity. From luggage crafted from leather-like paper in Tuscany to concept eyewear made in Japan, each aspect of the brand is curated with international flair, adding to Rare Rabbit’s premium appeal.
Since opening its first flagship store in Bengaluru’s UB City in 2015, Rare Rabbit has steadily gained recognition, building a presence in major cities and now branching into India’s smaller urban markets. By controlling the entire value chain, from design to retail, Rare Rabbit achieves cost efficiency and maintains quality, keeping it well-aligned with India’s broader premiumisation trend, where consumers are increasingly drawn to accessible luxury. This has also paved the way for the brand to gain traction with investors. Tata Capital, for instance, is reportedly considering a purchase of a 13% stake in Rare Rabbit, valuing the brand at $300 million—a testament to the potential investors see in India’s burgeoning premium apparel market.
In June 2024, Rare Rabbit raised Rs 150 crore (around $18 million) in primary capital from A91 Partners, marking the first institutional investment in the brand since its inception. This influx of capital will likely support further expansion and product diversification, enabling The House of Rare to keep pace with evolving consumer preferences and cement its status as a leader in Indian menswear. As Rare Rabbit continues to grow, its influence on India’s premium fashion market reflects a broader cultural shift toward distinct, high-quality fashion for men—a promising outlook for the brand’s future.
