Namita Thapar, renowned as the Shark on 'Shark Tank India 3,' has achieved a significant milestone as she took a partial exit from the airport retail brand Rare Planet, marking the first-ever exit on 'Shark Tank India.' Thapar, who had invested in Rare Planet on the show in 2021, has seen a remarkable 3.5x return on her investment.
Rare Planet, acknowledged as India's largest airport retailer, entered 'Shark Tank India' in 2021 and secured a deal with Namita Thapar. The brand, founded by Ranodeep Saha during his first year of BTech and later joined by Co-Founder Vijaya Kumar TR, impressed Thapar with its commitment to social responsibility.
Expressing her admiration for Rare Planet's founder, Namita Thapar stated, “Rano stands out as a founder who personifies humility, determination, and an unwavering passion for supporting artisans.” She highlighted the lasting impression left by meeting Rano's parents in Kolkata and expressed excitement about the ongoing success of Rare Planet.
Since Namita's initial investment and their appearance on 'Shark Tank India 1,' Rare Planet has experienced remarkable growth, expanding its footprint by 12 times with stores across 37 airports and 50 locations nationwide.
Vijaya Kumar TR, Co-Founder of Rare Planet, praised Namita Thapar as a guiding force, stating, “Her expertise, particularly in pricing and marketing, has played a pivotal role in our exponential growth.”
Rare Planet has diversified its offerings, introducing formats like Rare Planet Luxe for luxury items and SITARA for Indian Fashion Accessories. The brand 2M Minimart caters to the Convenience Retail format across Tier 2 airports. The company's airport retail stores showcase a diverse inventory of over 10,000 unique handcrafted items created by more than 10,000 local artisans.
The success story of Rare Planet underscores the opportunities and recognition that 'Shark Tank India' has brought to aspiring entrepreneurs in the country, marking a historic moment with Namita Thapar's partial exit from the brand.
(With Agency Inputs)
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