Happy Monday! A new wave of brands founded by second generation entrepreneurs is snagging venture capital. This and more in todays packed edition of ETtech Morning Dispatch.
Several direct-to-consumer (D2C) brands in sectors such as food and beverages, apparel, health and wellness — founded by scions of families running traditional businesses in similar categories — are drawing significant amounts of venture funding.
Rare Rabbit set to get $61 Mn funding from A91 Partners, Manyavar promoters, Nikhil Kamath techstory.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techstory.in Daily Mail and Mail on Sunday newspapers.
Founded in 2016, Rareism is a subsidiary of Radhamani Textiles. In the last 5 years of brand presence, it has seen exponential growth with a 2.5x growth rate in the last financial year of 2023. Looking forward, it plans on continuing the same growth pattern.
Rare Rabbit has tapped into men's growing interest in trying out different clothing styles. Pulkit Verma, head of ecommerce and digital marketing at Rare Rabbit, mentioned to ET a few years ago that they noticed more men wearing floral clothing, indicating a shift in corporate dressing becoming less formal. Tata has engaged in discussions with Rare Rabbit and is currently conducting a thorough evaluation after presenting a term sheet to potentially invest $40 million.
Rare Rabbit has tapped into men's growing interest in trying out different clothing styles. Pulkit Verma, head of ecommerce and digital marketing at Rare Rabbit, mentioned to ET a few years ago that they noticed more men wearing floral clothing, indicating a shift in corporate dressing becoming less formal. Tata has engaged in discussions with Rare Rabbit and is currently conducting a thorough evaluation after presenting a term sheet to potentially invest $40 million.
Tata Capital is the financial services arm of India's $144 billion salt-to-aviation Tata conglomerate, and its investment interest in Rare Rabbit comes at a time its rivals such as billionaire Mukesh Ambani's Reliance are also gravitating towards premium fashion offerings.
India's fashion and clothing sector has drawn big Indian and foreign brands in recent years from Tommy Hilfiger to Japan's Uniqlo. Retailers such as Reliance and Tata Group also run their retail chains targeting the booming middle-class segment by selling mid-range clothing from their outlets across the nation.
India's Tata Capital is looking to purchase a roughly 13% stake in premium domestic fashion brand Rare Rabbit at a valuation of $300 million, as it seeks to bet on the country's affluent shoppers,... -December 14, 2023 at 02:48 am EST
- MarketScreener
Tata Capital is the financial services arm of India's $144 billion salt-to-aviation Tata conglomerate, and its investment interest in Rare Rabbit comes at a time its rivals such as billionaire Mukesh Ambani's Reliance are also gravitating towards premium fashion offerings.