Rare Planet is a retail lifestyle startup launched in 2015 by co-founder Ranadeep Saha and Vijay Kumar Thalanki Rajgopal who joined him in 2019.
This Kolkata-based handicraft company promotes and sells indigenous Indian Handicrafts in offline and online markets along with giving a sustainable income to local artisans.
Rare Planet works exactly like D2C. So first of all, this startup started with terracotta kulhads product, over time it started expanding its product. Right now, it sells a wide variety of products like handicrafts, stationery, jewellery, pottery, bottles, and home decor products made from terracotta, copper, ceramic, brass, wood, and marble.
The founder says that his team designs and lists the product. When they get an order for a particular product, they pass the order on to the artisans who work in it. After the order is completed, he makes the payment to the craftsman.Many Indian craftsmen do not know the right price for their product, because of this middle man, they sell this product directly to the consumer.
Rare Planet is currently working with 10,000 local artisans in 23states.It is currently India’s Largest Airport Retailer with its company owned stores in 35 Airports in India ;Other than their own Stores Rare Planet products are available across different Retailers like Crossword , Starmark , Relay and WHSmith to name a few.It is also available on the online platform Flipkart, Amazon, and MenXp with its website. The founder says that he made a revenue of Rs 40 crore last year.
Rare Planet in this February has opened its Luxury Format Handicraft Store Rare Planet LUXE in Bangalore T2 Terminal marking it to be India’s First Luxury Format Handicrafts Store.
The Start Up has raised 16 Cr in its Series A from multiple marque investors including the Adani Family in March of 2022. In the Past they have raised 2.25 Cr from Uni-M Ventures during the Pandemic around October of 2021.
The First round of Funding of 1.15Cr in Rare Planet was led by Venture Catalyst and Sagar Daryani , Founder WoW Momo back in 2019.
They have also begun retailing handicraft jewellery through their second brand SITARA at a few Select Airports.
Rare Planet got featured in Season 01 episode 26. Namita Thapar was a fan of their business before because she had already visited their store. She offered a deal for a 5% stake. At the end, she closed the deal for Rs.65 Lakhs for 3% equity and eventually closed it off show at 1% of Equity.
Today, Rare Plane boasts of its retail stores across the length and breadth of India, and at all major airports in the country. It has received decent funding from various Government schemes and private investors and has used the capital industriously, which has set the start-up on a path of unstoppable growth.
