Biography of Ranodeep Saha: Founder of Rare Planet- Entrepreneur
Biography of Ranodeep Saha:
The Birth of Rare Planet
In 2015, Ranodeep Saha, a recent engineering graduate from
IIT Kolkata, embarked on an entrepreneurial journey that would change the
landscape of Indian handicrafts. Co-founding Rare Planet with Vijay Kumar, he
aimed to create a platform that not only showcased the rich heritage of Indian
artisans but also empowered them economically. Their vision was clear: to
uplift local craftsmen by providing them with a sustainable income through the
sale of their handcrafted goods, thus preserving traditional arts that were at
risk of being lost to industrialization.
Bridging Tradition and Modernity
India is renowned for its craftsmanship, with a vast array
of traditional skills passed down through generations. However, the rise of
mass-produced products has often eclipsed these unique artisanal skills.
Ranodeep recognized this challenge and set out to bridge the gap between
tradition and modern consumerism. Rare Planet became a beacon for rural
artisans, helping them gain visibility and market access while ensuring that
the integrity of their craft was maintained. By prioritizing direct sourcing from
artisans, Rare Planet guaranteed that these craftspeople received fair
compensation for their work.
A Retail Revolution
Rare Planet's business model revolves around the retail of
handmade items made from various materials, including terracotta, wood, brass,
and ceramic. The company operates both online and through physical stores,
which not only helps artisans sell their products but also educates consumers
about the stories behind each item. This connection fosters a deeper
appreciation for handmade goods, allowing customers to feel a part of the
artisans' journey. Rare Planet's focus on high-quality craftsmanship has resonated
with consumers looking for authentic, culturally rich products.
The Shark Tank Opportunity
Rare Planet’s moment in the spotlight came when it
participated in Shark Tank India. Seeking ₹65 lakhs for a 1% equity stake, the
founders showcased their innovative approach to promoting handicrafts. The
pitch caught the attention of the investors, particularly Namita Thapar, who
saw the potential in Rare Planet’s mission. After discussions, they reached an
agreement for ₹65 lakhs in exchange for 3% equity. This investment not only
provided vital funding but also enhanced the brand's credibility, opening doors
for future growth.
Post-Shark Tank Growth
Following their appearance on Shark Tank, Rare Planet
witnessed a significant surge in its operations. The company expanded its reach
from just five airports to over 37 across India, establishing 50 retail
outlets. This rapid expansion was a testament to the market demand for
artisanal products and the effectiveness of the business model. Namita Thapar’s
investment proved fruitful, as she later reported a 3.5x return, demonstrating
the financial viability of Rare Planet’s approach to blending social impact with
profitability.
Supporting Artisans During Crisis
The COVID-19 pandemic brought unprecedented challenges,
particularly for local artisans who rely on seasonal sales. With many
struggling to make ends meet, Rare Planet stepped in to provide essential
support. The company implemented strategies to keep artisans engaged and
financially stable, resulting in an impressive increase in their incomes by up
to 180%. This support not only helped artisans survive during tough times but
also reinforced Rare Planet’s commitment to their welfare and economic empowerment.
A Vision for the Future
Looking ahead, Ranodeep and his team have ambitious plans
for Rare Planet. They aim to provide work for over 25,000 artisans by 2022,
expanding into more states across India. The focus is not just on increasing
numbers but also on enhancing the variety of traditional crafts represented. By
collaborating with artisans from diverse regions known for their unique crafts,
such as Kutch and Jodhpur, Rare Planet seeks to create a rich tapestry of
products that reflects the country’s cultural diversity.
Adapting to New Realities
The pandemic necessitated a shift in how businesses operate,
and Rare Planet adapted quickly. The company prioritized the health and safety
of its artisans by supplying masks and enforcing safety protocols in workshops.
This proactive approach ensured that artisans could continue their work safely,
reinforcing Rare Planet's dedication to both productivity and well-being. By
maintaining strong communication and support, the brand fostered resilience
within the artisan community.
The Journey from Hobby to Business
Ranodeep’s fascination with handicrafts began in his college
days when he started painting terracotta kulhads. This hobby turned into a
venture during a college fest, where he sold these hand-painted items and
realized their market potential. Encouraged by positive feedback, he began
sourcing products from local artisans, setting the stage for what would become
Rare Planet. His early experiences highlighted the intersection of passion and
entrepreneurship, driving him to create a business that resonated with
consumers.
Overcoming Initial Hurdles
Despite his enthusiasm, Ranodeep faced numerous challenges
as he tried to establish Rare Planet. Initially, securing shelf space in
bookstores was difficult, as many owners were hesitant to partner with a young,
unproven entrepreneur. However, Ranodeep’s determination and willingness to
engage in dialogue ultimately paid off. His persistence opened doors, and he
began to carve out a niche for Rare Planet in the competitive retail landscape.
A Leap of Faith
In 2016, Ranodeep sought to expand Rare Planet's presence by
approaching Kolkata Airport with a proposal for a retail space. Although
initially discouraged, he was connected to WHSmith, which agreed to showcase
Rare Planet's products in its airport stores. This partnership marked a
significant turning point for the brand, as it began to gain visibility among a
diverse clientele, from travelers to airport employees. Today, a significant
portion of Rare Planet's revenue comes from these strategic airport locations.
Biography of Ranodeep Saha: Founder of Rare Planet- Entrepreneur/age/net worth/investor/startup/traditional crafts/Rare Planet story/Ranodeep Saha
Creating Community Connections
Recognizing the enduring appeal of literature, Ranodeep
opened a book stall in Kolkata in 2017. This initiative not only complemented
Rare Planet’s product line but also fostered a sense of community. The book
stall became a gathering place for locals and tourists alike, allowing Rare
Planet to connect with customers on a personal level. By blending literature
and handicrafts, Ranodeep created an inviting atmosphere that encouraged
exploration and engagement.
Choosing Entrepreneurship
After graduating, Ranodeep faced a pivotal decision: to
pursue a corporate career or continue building Rare Planet. He chose the
latter, driven by a passion for social entrepreneurship and a desire to make a
meaningful impact. This choice reflects a broader trend among young
professionals seeking purpose-driven work, prioritizing personal fulfillment
over traditional career paths. Ranodeep's commitment to Rare Planet underscores
the potential of entrepreneurship to create positive change.
A Partnership for Growth
In 2019, Ranodeep met Vijay Kumar, who brought invaluable
retail experience to the startup. Their partnership strengthened Rare Planet's
business operations and marketing strategies, allowing the brand to scale
effectively. Together, they worked to refine the product offerings and improve
the overall customer experience. This collaboration has been instrumental in
navigating the challenges of the retail landscape and positioning Rare Planet
as a leader in the handicraft industry.
A Socially Responsible Brand
At its core, Rare Planet embodies a socially responsible
mission. By focusing on sustainable growth and the welfare of artisans, the
brand aims to make a significant impact on the lives of countless craftsmen
across India. Their efforts to preserve traditional crafts while providing fair
wages exemplify the power of social entrepreneurship. Rare Planet is not just a
retail brand; it’s a movement dedicated to uplifting local communities and
celebrating the beauty of Indian craftsmanship. Through innovation, adaptability,
and a deep commitment to their mission, Rare Planet is paving the way for a
more equitable future for artisans everywhere.
A timeline outlining the journey of Rare Planet:
2015: Ranodeep Saha, an IIT Kolkata graduate, co-founds Rare
Planet with Vijay Kumar to empower Indian artisans and preserve traditional
crafts.
2015-2016: Ranodeep sources handcrafted products, bridging
the gap between artisans and modern consumers, and begins selling at college
festivals.
2016: Approaches Kolkata Airport to secure retail space,
leading to a partnership with WHSmith that increases visibility among
travelers.
2017: Opens a book stall in Kolkata, enhancing community
connections and complementing the handicraft offerings.
2019: Vijay Kumar joins as co-founder, bringing retail
expertise to help scale the business and refine operations.
2021: Rare Planet participates in Shark Tank India, seeking
₹65 lakhs for a 1% stake. The founders secure an investment for 3% equity,
boosting credibility and funding.
Post-Shark Tank: Expands operations from five to over 37
airports and establishes 50 retail outlets, significantly increasing market
presence.
2020-2021: During the COVID-19 pandemic, Rare Planet
supports artisans, increasing their incomes by up to 180% and maintaining
engagement through strategic initiatives.
Future Plans: Aims to provide work for over 25,000 artisans
by 2022, expanding into more states and diversifying the product range to
include crafts from various regions.
2024: Continues to focus on social responsibility, fair
wages, and preserving traditional craftsmanship, positioning Rare Planet as a
leader in the handicraft industry.
