Rare Rabbit owner Radhamani Textiles’ profit increases to Rs 75 crore in FY24

Apparel brand Rare Rabbit’s parent company Radhamani Textiles reported a net profit of Rs 75 crore in the 2024 financial year, up from Rs 32 crore in the 2023 fiscal year. The Bengaluru based business also saw its revenue increase by 69% year on year.

Radhamani Textiles’ operating revenue totalled Rs 637 crore in the 2024 financial year which ended on March 31, ET Tech reported. The business experienced strong growth during the year while some of its peers saw a slight slowdown in consumption.
 
The 2024 financial year saw Rare Rabbit significantly expand its brick-and-mortar footprint in India which helped to boost revenue. This also meant that its offline revenue formed a much larger portion of its total revenue than in previous years.
 
Rare Rabbit is continuing to open stores across India this financial year and has launched outlets in cities including in Coimbatore, Rajahmundry, Jammu, and Hyderabad. The brand has also opened children’s wear stores in Ahmedabad and Ludhiana and expanded its product offering with its footwear line Rare’z, the brand announced on Facebook.
 
Rare Rabbit is Radhamani Textiles’ flagship brand and the business also runs womenswear brand Rareism and everyday apparel label Articale. Radhamani Textiles’ history is as an apparel manufacturer focusing on export markets and it has supplied clothing to international businesses including Zara’s owner Inditex, ET Bureau reported.