Premium apparel brand Rare Rabbit has received an equity investment of Rs 150 crore from A91 Partners, Nikhil Kamath’s NKSquared, Gruhas Proptech, Ravi Modi Family Trust, and Vedant Modi, according to a regulatory filing filed by the company.
Radhamani Textiles Private Limited, the parent company of Rare Rabbit, received Rs 102 crore from lead investor A91 Emerging Fund II LLP (share capital of 9.65%), while NkSquared infused Rs 29 crore (4.13%).
Ravi Modi is the founder of the ethnic wear brand Manyavar. Vedanti Modi is his son.
Ravi Modi Family Trust infused Rs 15 crore in the apparel brand (2.13%), while Vedant Modi put in Rs 2.9 crore (0.43%).
The company did not immediately respond to queries sent by YourStory.
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The company logged a revenue of $47.5 million and a net profit of $4.02 million for the financial year ended March 31, 2024, according to market intelligence firm Tracxn.
Rare Rabbit, which was established in 2005, sells men’s shirts, trousers, jackets, and shoes. It is part of The House of Rare, which also owns women’s clothing brand Rareism.
Rare Rabbit competes with apparel brands such as Bombay Shirt Company and Snitch.
Edited by Swetha Kannan
