Starting a business is a dream for many, and the first thought is usually to avoid taking loans for that. But, there is a man who took a bold step, by borrowing a whopping Rs 37 crore to launch his venture. Through determination and vision, he has turned that risk into a thriving enterprise now worth Rs 2,400 crore, offering an inspiring lesson for aspiring entrepreneurs everywhere.
From Kalbadevi to a Billion-Rupee dream
Manish Poddar’s journey from the bustling lanes of Kalbadevi in Mumbai to becoming the owner of Rs 24 billion company is nothing short of remarkable. At an early stage, he secured a massive loan of Rs 37 crore to build his own business. His decision was an extraordinary risk that left no room for error. But backed by determination and unwavering self-belief, Manish turned that risk into an inspiring success story.
After completing his studies, Poddar worked in his father’s business. At the age of 16, he began working in his father’s textile mills. Gradually, he also learned designing and exporting. In 2004, Poddar took all his capital and a loan of Rs 37 crore (approximately $1.7 billion). He then started a garment manufacturing unit in Bengaluru. During this time, he travelled to Europe, where he saw a Zara store. This moment changed his life completely. He designed garments for brands like Zara, Jack & Jones, and Miss Sixty.
Founding Rare Rabbit
After this stint, Poddar decided to start his own business in 2015 and founded the company Rare Rabbit. He envisioned creating stylish men’s clothing and opened his first store in Bengaluru. Drawing inspiration from Europe, he sourced clothing designs from Italy and New York. Over time, stores began opening abroad as well and gradually, Rare Rabbit expanded throughout India.
Interestingly, Poddar has turned his company, Rare Rabbit into a multi-billion-dollar business. Today, the company is valued at $300 million, or approximately Rs 2,400 crore. Through his vision and venture, he has transformed men’s fashion in India and beyond.
