Kaise The House of Rare Ne Profit Mein 131% Growth Ki? 🤔

OutlookIndia

Indian fashion industry ka agla bada naam - Rare Rabbit! 🐇 Kaise ek Bengaluru-based brand ne 131% profit growth achieve ki aur premium brands ko takkar di? 🧥 Story behind their success, innovation, aur investor ka support! 👔

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00:00Bangalore-based fashion brand, The House of Rare, which runs its popular brand, Rare Rabbit,

00:21has taken a huge leap in the Indian fashion industry.

00:26The net profit of this company has increased by more than double.

00:29Its parent company, Radhumani Textiles, earned a profit of Rs. 74.5 crores in FY24,

00:36which is a growth of 131% since last year.

00:39Today, in this episode of First Say Fashion, we will learn the secret of Rare Rabbit's success

00:43and why Zerodha's co-founder Nikhil Kamat has also supported it.

00:47And that too when other competitors are going at a loss.

00:51Like Aditya Birla's lifestyle segment of fashion and retail,

00:54which handles premium brands like Louis Philippe, Alain Soli, and Van Heusen,

00:59their revenue has fallen by 1% compared to FY23.

01:03The House of Rare has focused on its expansion and growth.

01:07In 2015, this brand started by Manish Poddar and Akshika Poddar,

01:12operates three major brands today.

01:15Rare Rabbit for men's wear, Rarism for women's fashion,

01:19and Artikian for daily wear or as a leisure.

01:22All these come under Kolkata-based Radhumani Textiles.

01:26Initially, Radhumani Textiles was an apparel manufacturer,

01:30which mainly exported to international markets.

01:33This company supplied globally known brands,

01:36including European fashion giant Inditex, which is owned by Zara.

01:41As trends changed, Radhumani Textiles decided to launch its own brands

01:46and found a new way to reach the consumer directly.

01:50Rare Rabbit, which was the first brand of the House of Rare, came up with a new idea.

01:55Its aim was to separate men's fashion from traditional whites and grey.

02:01This brand celebrates men who like to go beyond traditional thoughts.

02:06Manish Poddar, who has 12 years of experience in Zara and Jack and Jones,

02:11took inspiration from European stores in designing and manufacturing

02:15and introduced this unique style to India.

02:18Rare Rabbit not only gives clothes, but also gives experience,

02:22which includes world-renowned items,

02:25such as Tuscany's leather-like paper luggage,

02:28Japan's imported eyewear, New York's store design,

02:32and Spain's conceptualized store fragrance.

02:35Today, Rare Rabbit has more than 180 stores in India,

02:39and they offer a broad range of shirts, jackets, suits, trousers, and jeans.

02:44They have also launched a brand called Rare Ones for children.

02:47Their stores are not only in metro cities, but also in tier 2 and tier 3 cities,

02:52which the brand is helping in penetration.

02:55The company's revenue is also growing very fast.

02:58The House of Rare's operating revenue jumped 69% to 637 crores in FY24,

03:07and their total revenue, including other income,

03:10has increased by 1.5 times since last year.

03:13Expenses are also increasing with revenue,

03:16but the increase in revenue is more than expenses.

03:19The company's total expenditure is 60%.

03:22The company's total expenditure has increased by 60% to 542 crores,

03:27which is due to some important investments.

03:30The biggest expense was of materials,

03:32because this is an omnichannel clothing brand.

03:35In FY24, the material cost was 208 crores,

03:40which is 53% more than FY23.

03:43There was also a major spend in advertising,

03:46which increased by 46% to 93 crores.

03:49The employee cost also doubled to 78 crores,

03:53which shows the growing workforce.

03:57The fast growth of the House of Rare also attracted the interest of investors.

04:02This brand closed its first institutional funding round,

04:05in which it raised Rs. 500 crores from

04:08A91 Partners, Zerodha's co-founder Nikhil Kamat,

04:12and Maniyavar's founder Ravi Modi's family office.

04:15In this round, the company's valuation reached Rs. 2600 crores.

04:20Due to growing disposable income,

04:22there are many chances for this market to grow.

04:25And that's why brands like Damings, The Soul Store, and XYXX

04:30are also in competition.

04:32The House of Rare is standing out with its high-quality products,

04:35unique style, and international appeal.

04:38This success story of the brand is not just a journey,

04:41but an example of a new thought and innovation,

04:44which is taking the Indian fashion industry to a new level.

04:48Are you also experimenting with your fashion?

04:51Tell us in the comments.

04:52And like this video and subscribe to the channel.

04:55See you in the next video.

04:56Bye.

04:59♪

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