Shark Tank India has generated a lot of excitement on social media. The team of sharks provides a great platform for entrepreneurs to showcase their products and if they are interested, they invest. Many startups have received investments and have their success stories, and one remarkable example is Rare Planet. Rare Planet is now the largest airport retailer in India. What's impressive is that after securing a deal on the show, Rare Planet has thrived over the past two years, marking the first Shark exit with a 3.5x return on investment.
Founded during Ranodeep Saha's BTech days and later joined by Co-Founder Vijaya Kumar TR, Rare Planet's success is a testament to the opportunities presented by Shark Tank India for individuals with ambitious aspirations. Ranodeep Saha's pitch with Vijaya Kumar TR in Season 1 left a lasting impression, particularly on Namita Thapar. She was so impressed by their commitment to social responsibility that she invested in the company. Fast forward two years from the show and Rare Planet is flourishing revenue has increased by 5X, and they are generating double-digit PAT profit.
Namita Thapar, impressed by Rare Planet's revenue and the positive impact on 10,000 artisans, decided to expand significantly. Since her initial investment, Rare Planet has expanded from 5 airports to an impressive 37, with 50 stores across the country. They have even introduced different formats such as Rare Planet Luxe for luxury goods, SITARA for Indian Fashion Accessories, and the Convenience Retail brand 2M Minimart in Tier 2 airports.
Visit Rare Planet's airport shops, and you'll discover a wide range of over 10,000 handcrafted items—mugs, copper bottles, cups, plates, Kulhads, stationery, jewelry, and accessories. All are created by 10,000 local artisans, many of whom are dedicated women pouring their passion into these beautiful products. It's not just about art; Rare Planet is transforming lives. They are providing support for the artisans' children's education, resulting in a 180% increase in income for over 8,000 artisans and helping more than 1,000 children pursue their aspirations. Now, that's an inspiring tale!