51st Edition and I wanted to make your Saturday evening delightful. So, I thought to put the spotlight on a homegrown D2C brand in the fashion sector.

The pace at which this brand is growing, it will soon become a Unicorn. Any guesses?

I will drop some more cues 👇

💠 69% revenue growth from INR 376 Cr in FY23 to INR 637 Cr in FY24

💠 131% surge in net profit from INR 32.2 Cr in FY23 to INR 74.5 Cr in FY24

💠 30% sales via online channels

💠 180+ exclusive brand outlets across metros and tier II/III cities

💠 INR 2400 Cr valuation in FY24

Of course, Rare Rabbit!

Make no mistake, this bunny is more than just running fast. This bunny is diligent, profitable, and has a sustainable business model.

But before we dive into the numbers and strategies, let’s rewind to where it all began.

Man(ish) With A Mission

For Manish Poddar, that dream began in the textile hubs of Kalbadevi, Mumbai. As a schoolboy, Manish didn’t carry schoolbags; he carried a VIP suitcase because it made him feel like a businessman.

He wasn’t a fan of classrooms or exams, but he was fascinated by colors, textures, and design. Taking leftover fabric from his father’s textile business, young Manish experimented with local tailors to create clothes inspired by his Bollywood idols, Amitabh Bachchan and Mithun Chakraborty.

It was during a visit to Europe that Manish found his big idea: bringing global fashion sensibilities to Indian consumers. Impressed by brands like Zara, he began designing and supplying garments to international giants, building a name for himself in European fashion circles.

But his heart was set on creating a brand for India. In 2015, Rare Rabbit was born.

His mission? To give Indian men more than just clothing—he wanted to sell style.

The Rare Playbook: What’s Different, What’s Working

Owning Every Thread: Vertical Integration For Quality & Agility

Rare Rabbit doesn’t just design clothes—it makes them, too. Manufacturing 70% of its garments in-house, Rare Rabbit maintains control over quality and costs. This operational model ensures premium fabric, superior cuts, and a faster turnaround on trends, all while saving 15-20% on outsourcing costs.

During the pandemic, this agility proved invaluable. While competitors struggled with disrupted supply chains, Rare Rabbit pivoted swiftly to cater to the rising demand for casual and athleisure wear.

A Global-Local Approach to Fashion

Rare Rabbit isn’t just selling clothes—it’s selling a lifestyle inspired by global trends.

✴️ Minimalist European designs tailored for India.

✴️ Premium products like paper-made luggage from Tuscany and concept eyewear from Japan.

✴️ Quirky branding—shirts named Glass Break and Drive, and hidden rabbit logos in unexpected places.

By offering accessible luxury (INR 3,000 AOV), Rare Rabbit captures the aspirations of India’s affluent middle class.

Omnichannel Strategy: Marrying Offline & Online

Rare Rabbit has struck the perfect balance between e-commerce and physical retail.

✳️ High-Footfall Stores: Its curated, 1,000–1,500 sq. ft. outlets rake in an average of INR 80L To INR 1 Cr annually.

✳️ E-commerce Excellence: Rare Rabbit’s direct-to-consumer website captures 55-60% sales margins, thanks to its digital-first marketing and inventory control.

✳️ Marketplace Expansion: Collaborations with Myntra, Flipkart, Ajio, amplify reach without diluting brand identity. 10% sales are attributed to marketplaces.

Improving Gross Margins While Delighting Customers – The Secret Sauce

Rare Rabbit has embraced innovative cost management workflows that not only keep expenses in check but also elevate the overall customer experience.

A major win for Rare Rabbit lies in its lean inventory management system. By leveraging cutting-edge technology to forecast demand, the brand ensures it stocks just the right amount of inventory. This precision reduces the burden of unsold items and markdowns, boosting cash flow by 10-15%. It’s a delicate balance of art and science that ensures shelves are always stocked with what customers actually want.

Rare Rabbit makes every square foot of its stores count. The brand’s smaller, thoughtfully designed stores are curated to perfection, keeping overheads low while delivering maximum impact. By avoiding large, sprawling retail spaces, Rare Rabbit optimises costs without compromising on the shopping experience.

And speaking of experiences, stepping into a Rare Rabbit store is nothing short of delightful. Every detail is designed to captivate:

🔥 Fragrances from Spain fill the air, making every visit a sensory pleasure.

🔥 Playlists from New York create the perfect vibe, reflecting the brand’s global inspiration.

🔥 Exclusive product curation includes high-fashion eyewear, artistic sculptures, and more, with price tags that can range up to INR 45,000

This Rabbit Is Always Ahead Of The Turtle

Rare Rabbit’s meteoric rise is no accident—it’s perfectly timed with India’s premiumisation boom. As disposable incomes grow and younger Indians embrace global trends, the demand for accessible luxury has skyrocketed.

And if you ask us, what works for Rare Rabbit, we would say boldness. Rare Rabbit doesn’t cut corners while exploring new business avenues.

Whether it’s launching a women’s line (Rareism), entering kids’ fashion (Rare Ones), or venturing into streetwear (Rare’z), the brand is building an empire that caters to every demographic.

It will be interesting to see how Manish takes advantage of the shift in consumption pattern of Indian audiences. Will he switch up the styles?

What do you think?