Rare Rabbit’s FY24 Profit Doubles To INR 75 Cr
INTRODUCTION
Bengaluru-based brand which cracked the colour code in FY24 has cracked the secret to profit as well. This year Rare Rabbit’s FY24 Profit has nearly doubled. The brand has managed to connect with the need of modern consumers. It looks that the brand knows what the fashion needs are how to build a strong business foundation at the same time. This remarkable profit shows the integrity of the founders in the startup. Let us look into the details now:
RARE RABBIT- A BRIEF INTRO
The House of Rare operates three distinct brands Rare Rabbit (men’s apparel), Rareism (women’s fashion), and Articale (everyday wear). The focus on trendy apparel and offering clothes that reflect your mood and energy has helped the brand gain loyal customer base. The company is selling online and offline. In the crowded fashion startup space, selling with this mixed approach helps a lot to sustain.
FINANCE- RARE RABBIT’S FY24 Profit
Rare Rabbit’s profit for FY24 soared to INR 74.5 crore, fuelled by a significant rise in sales across its various brands. This profit, which is more than double that of FY23, emphasizes how the brand has effectively engaged with the fashion preferences of contemporary consumers while establishing a solid business foundation.
STRATEGY FOR GROWTH
Rare Rabbit has gone beyond selling clothes. It is becoming a fashion brand. The brand is balancing online and offline channels. It is catering to both digital-savvy shoppers and people who prefer traditional shopping. It is a sort of marketing strategy as well. You sell in a store. The store helps you earn profit and the presence of store is also acts as a marketing tool to enhance customer loyalty.
There are a lot of Startups that are bringing some unique trends in the market. But, the strong brand identity and rapid growth is helping the brand in competitive landscape.
KEY TAKEAWAYS
Rare Rabbit has experienced significant growth following its first external funding round this year, strengthening its position in the competitive premium fashion market. The success of Rare Rabbit highlights a wider trend in which fashion Startups are capitalizing on India’s rising demand for stylish and affordable clothing.
SOURCE LINKS:
