The Rise of Heir-preneurs in India
Entrepreneurs
UHNI
In 2016, when Manish Poddar could have simply joined his family's Radhamani Group, a well-established conglomerate in the textile world, he chose a different path. The young entrepreneur launched Rare Rabbit, a premium menswear brand that would compete in India's crowded fashion market, which leaves little room for missteps.
Eight years on, Rare Rabbit has not only surpassed ₹637 crores in revenue (FY24) with an operating profit of ₹75 crores but also raised ₹500 crores in its first institutional round led by A91 Partners, with participation from Ravi Modi and Nikhil Kamath.
It was, by every measure, a bold departure and a prescient one.
In the early 2000s, within the mahogany-panelled offices and multigenerational boardrooms of India’s oldest business families, the succession blueprint once followed a predictable arc. A scion would return from a prestigious Ivy League college, equipped with a global degree, a few years of grooming, and a ceremonial induction into the family f…
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