Snitch, one of India’s fastest emerging D2C men’s apparel brand has announced that it has witnessed a powerful growth trajectory of 250 percent from Rs 44 crore in FY 2021-22 to Rs 120 crore in FY 22-23 with a profit EBITDA of 6%. Riding on top of the fast fashion market for men, the company has been growing at an incredible pace and has been witnessing a staggering growth trajectory with 1300 percent of revenue growth in the last 2 years.
The company has also recently expanded into the new emerging category of Men’s Jewellery, after fragrances, with a focused vision to change the outlook of the men’s fashion industry across the country. It is in the process of adding more new categories to its portfolio.
It also offers plus sizes for men apart from an extensive assortment of everyday style essentials, such as formal shirts, party wear, leisurewear, athleisure wear, etc.
An Amalgamation of Online & Offline Retail
Snitch recently launched its first EBO in Bengaluru, to be operational by July 2023.
Driven by key propositions like world-class trends, niche designs, and mindful and sustainable styles, Snitch – which was conceptualised in 2019 – has achieved a benchmark of over 1 million orders over the course of the last one year wherein almost 55 percent of sales is generated through its agile, customer-friendly mobile app. The brand claims its app has been downloaded 1.5 million times in FY 22-23.
In keeping with the demand and to achieve more growth, Snitch’s workforce has almost doubled in FY 22-23, from 100 employees to 180 now.
Commenting on the development, Siddharth R Dungarwal, CEO & Founder, Snitch, said, “Our company has witnessed a rapid acceleration of growth over the recent years, and we are committed to moving forward with the same vigor. Especially, with our focused mission to change the outlook of the Men’s fashion industry, we are strategically capitalizing on fast fashion trends that truly make us stand apart from the rest of the world. The next financial year looks even more promising to bring even larger opportunities for Snitch and we are geared up for the same.”
The company’s recent appearance on Shark Tank India – where it successfully bagged an All-Sharks Deal, securing ₹1.5 crore for 1.5% equity from all five eminent judges – has further boosted its popularity.