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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.
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.