Namita Thapar partially exits airport retail brand with 3x returns, marks 1st exit for 'Shark Tank India'

Prameyanews English

Published By : Prameya News Bureau | January 29, 2024 IST

Namita Thapar

Mumbai, Jan 29: Namita Thapar, who serves as the Shark on ‘Shark Tank India 3’, took a partial exit from an airport retail brand after getting 3.5x return on her investment. This move marks the first exit ever for ‘Shark Tank India’.

The brand Rare Planet, which is recognised as India's largest airport retailer, entered the show in 2021 and cracked the deal with Namita.

Namita Thapar said: “Rano stands out as a founder who personifies humility, determination, and an unwavering passion for supporting artisans. Meeting his parents in Kolkata left a lasting impression on me-the pride in their eyes while recounting his entrepreneurial journey truly touched my heart. This is one story to watch out for, ‘picture abhi baaki hai’.”

Started as a venture in the first year of BTech by Ranodeep Saha and later joined by Vijaya Kumar TR as Co-Founder, the success of this company stands as a testament to the opportunities and recognition that Shark Tank India has brought to aspiring entrepreneurs in the country.

Ranodeep Saha's pitch with Vijaya Kumar TR in Season 1 of Shark Tank India impressed Namita Thapar as it seamlessly integrated the company's commitment to social responsibility, prompting Thapar to make an independent investment in the company.

Since the initial investment by Namita and their appearance on ‘Shark Tank India 1’, Rare Planet's footprint has expanded significantly by 12X growth in stores across India. Starting from a presence in 5 airports, the company now operates in over 37 airports with 50 stores nationwide.

Vijaya Kumar TR, Co-Founder, Rare Planet said: “Namita Ma'am has been a guiding force for us, meeting with us on multiple occasions to provide invaluable insights into our overall strategy. Her expertise, particularly in pricing and marketing, has played a pivotal role in our exponential growth.”

The company has diversified its offerings, introducing Rare Planet Luxe, a luxury format, situated across multiple airports. This format will be extended further in new airports in the pipeline. Also, the new format SITARA for Indian Fashion Accessories brand across 9 Airports, and brand 2M Minimart for Convenience Retail format across Tier 2 airports.

Rare Planet’s airport retail stores boast an extensive inventory of over 10,000 unique handcrafted items, and décor, ranging from mugs, copper bottles, cups, and plates, to Kulhads, along with stationery, jewellery, and accessories all created by more than 10,000 local artisans who are associated with the company.

‘Shark Tank India’ streams on SonyLIV.

 

(IANS)

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