Rare Rabbit, which has been conceptualised by the creative team of Mumbai-based Radhamani Group, has drawn up plans to open more concept stores in India and overseas. “Currently, we have four concept stores operating in Bengaluru, Chennai, Amritsar and Bhopal. Plans are on to have 35 company-owned outlets by end 2017. Paralelly, discussions are on to open 150 franchise based stores in three years time in France, Germany, Gulf Cooperation Council and Amsterdam. This will be a Made in India product conceptualised and produced in India and Bangladesh,” said Manish Poddar, Owner and Creative Director, Radhamani Group.
The first concept store in UB City, Bengaluru offers fashion, apparel, art, eye wear, luggage, sculptures, watches and ceramic accessories, which are sourced from Germany, Japan, Singapore, Italy, Turkey, India and Bangladesh.
Enthused by the success of its first concept store, Mr. Poddar said their global vision was to have 17 stores by June and another 18 by the year end. Rare Rabbit also has 50 multi-brand outlets points of sales in the country and this would be tripled in three years.
“We are a premium brand catering to mass market. We are a bridge to luxury segment. We will have our stores predominantly in shopping malls,” Mr. Poddar said.
Mentioning that they would need at least ₹200 crore for opening 35 outlets, he said: “The company has already pumped in ₹14 crore and was committed to invest ₹40 crore to₹50 crore this year. We are looking at investors, who will also be a strategic partner in our growth.”
He said their proposed entry into online shopping would commence by the month-end after completing partnership process.
The company produces four million garments per annum under various European brands. They are being exported to Europe and most part of the revenue comes from exports.
