Tata Capital eyes fashion brand Rare Rabbit at $300m valuation

MUMBAI, Dec 14 (Reuters): India's Tata Capital is looking to purchase a roughly 13 per cent stake in premium domestic fashion brand Rare Rabbit at a valuation of $300 million, as it seeks to bet on the country's affluent shoppers, three sources familiar with the matter said.
Tata Capital is the financial services arm of India's $144 billion salt-to-aviation Tata conglomerate, and its investment interest in Rare Rabbit comes at a time its rivals such as billionaire Mukesh Ambani's Reliance are also gravitating towards premium fashion offerings.
The three sources said Tata has held talks with Rare Rabbit and is conducting due diligence after issuing a term sheet to invest up to $40 million to grab a stake in the niche fashion brand that sells men's shirts and other apparel.