Rare Rabbit, a high-end fashion brand from Bengaluru, secured its first investment of Rs 150 crore ($18 million) in a funding round led by A91 Partners. This funding aims to propel the brand’s growth trajectory.
Founded in 2015, Rare Rabbit offers designer clothing for both men and women and boasts over 100 stores across India. The company has experienced impressive revenue growth, reaching Rs 600 crore in the 2024 financial year. This investment is part of a larger trend of increased funding for fashion brands in India.
Here’s a breakdown of the investment:
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- A91 Partners led the round with Rs 102 crore.
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- Zerodha’s founders, via their NKSquared fund, contributed Rs 29 crore.
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- Other investors including Gruhas Proptech, Ravi Modi Family Trust, and Vendant Modi collectively invested Rs 19 crore.
Following this investment, A91 Partners holds the largest stake at 9.65%, while NKSquared and Ravi Modi Family Trust own 4.15% and 2.13% respectively.
In the past couple of months, a clutch of fashion and apparel brands have raised their maiden institutional round. In May, A91 Partners led a $21 million round in TechnoSport whereas Libas raised $18 million led by ICICI Venture’s fun.
