Rare Rabbit, a homegrown premium fashion label, achieved a significant milestone in FY24 by surpassing Rs 600 crore in revenue, marking a standout year for the brand.
This was also the year it secured its first-ever external funding.
Rare Rabbit Makes Phenomenal Revenue
Radhamani Textiles, the Bengaluru-based parent company behind Rare Rabbit and women’s fashion label Rareism, reported an impressive Rs 637 crore in revenue for FY24. This represents a 69% increase compared to the previous year. Net profit for the period also saw a dramatic rise, soaring to Rs 75 crore from Rs 32 crore in FY23, according to financial data obtained from Tofler.
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These results highlight Rare Rabbit’s remarkable performance during a challenging economic climate, where many other established fashion players faced slower consumer spending.
The Condition of Competitors
In comparison, Aditya Birla Fashion & Retail’s lifestyle brands, which include names like Louis Philippe and Allen Solly, posted revenues of Rs 6,560 crore in FY24—a slight dip of 1% year-on-year.
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Earlier this year, Radhamani Textiles raised Rs 500 crore in its first institutional funding round. Investors included A91 Partners, Zerodha cofounder Nikhil Kamath, and Ravi Modi’s family office (the founder of ethnic wear giant Manyavar). The deal valued the company at Rs 2,600 crore.
