House of Rare targets Rs 1,600 crore revenue and 285 stores this fiscal

The fashion retailer plans to add 75 stores across the current and next fiscal years, expanding womenswear, sneakers, kidswear and luggage while pushing deeper into tier-2 and tier-3 markets.

— Source publishedThu, 10 Sept, 2026, 12:20 IST·First seen Thu, 10 Sept, 2026, 14:14 IST·Source ET Retail

What happened

House of Rare targets Rs 1,600 crore revenue and 285 stores this fiscal, driven by category expansion across womenswear, sneakers, kidswear and luggage. It

Key facts

  • Rs 1,600 crore revenue target this fiscal
  • Rs 1,100 crore revenue last fiscal
  • 210 current stores
  • 285 stores targeted by end of this fiscal
  • 50 additional stores planned next fiscal
  • More than 1,100 points of sale
  • 97% company-owned and company-operated stores
  • Rare Rabbit contributes 70-72% of revenue
  • Rareism contributes about 20% of revenue
  • Offline contributes 60% of revenue; online 40%
  • EBITDA margin expected at about 14%, versus 10-11% previously

Why this matters

The retailer’s move into adjacent categories and deeper smaller-city penetration could create partnership, brand-acquisition and distribution opportunities to accelerate its multi-format rollout.

What to watch

  • Quarterly net store additions and whether the chain reaches 285 stores within the stated fiscal year.
  • Revenue per store, same-store sales growth and the proportion of revenue contributed by stores opened in the last 12 months.
  • Gross-margin movement, markdown intensity and inventory days as category breadth expands.
  • Evidence that womenswear, sneakers, kidswear and luggage are generating repeat purchases rather than one-time trial demand.
  • Lease commitments, franchise mix and operating-profit trends indicating whether expansion is capital-efficient.
  • Competitive openings by national fashion chains in the same tier-2 and tier-3 catchments.
  • Prioritize franchise or asset-light formats in tier-2 and tier-3 clusters to accelerate store count while containing lease and capex exposure.
  • Use new stores as multi-category destination formats, with menswear driving traffic and sneakers, luggage, kidswear and womenswear increasing attachment rates.
  • Build regional replenishment and demand-planning capabilities to prevent stock-outs in fast-moving fashion lines and excess inventory in new categories.
  • Increase local-language digital marketing, mall activations and wedding-season campaigns to establish brand awareness beyond metro markets.
  • Rationalize the opening pipeline around cities with proven premium-fashion demand, rather than pursuing store-count targets uniformly.

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