Premium apparel brand Rare Rabbit has received an equity investment of Rs 150 crore from A91 Partners, Nikhil Kamatin's NKSquared, Gruhas Proptech, Ravi Modi Family Trust and Vedant Modi, the company said in a regulatory filing.
Radhamani Textiles Pvt Ltd, the parent company of Rare Rabbit, received Rs 102 crore (9.65% stake) from lead investor A91 Emerging Fund II LLP, while NkSquared invested 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 invested Rs 15 crore (2.13%) in Vastra apparel brand, while Vedant Modi invested Rs 2.9 crore (0.43%).
Founded in 2005, Rare Rabbit sells men's shirts, trousers, jackets and shoes. It is part of The House of Rare, which owns womenswear brand Rareism. Rare Rabbit competes with apparel brands like Bombay Shirt Company and Snitch.
