~ 10X Profit Growth~
~ 3x Growth in Revenue since last year~
~Clocked the Milestone of Over 1 Million Orders in the last 1 year~
~ Records 1.5 Million app downloads ~
New Delhi, May 31, 2023- Snitch, India’s fastest emerging D2C men’s apparel brand announces that it has witnessed a powerful growth trajectory of 250 percent from 44 crores in FY 2021-22 to 120 Crores in FY 22-23 with 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 to a 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. The company is presently in the process of adding further new categories to its portfolio. SNITCH also forays into the offline retail market with its 1st EBO in Bengaluru to be operational by July 2023.
Driven by key propositions like world-class trends, niche designs, and mindful & sustainable styles, Snitch has achieved a benchmark of over 1 Million Order over the course of the last 1 year wherein almost 55 percent of sales is generated through its agile, customer-friendly mobile app, that has also evidently recorded 1.5 million app downloads in FY 22-23. Snitch has almost doubled its employee base during the financial year 2022 – 23 to achieve new levels of growth. The company undergoes a rapid team expansion spree from presently 100 to increase its employee base to 180 by FY 2023 – 24, to cater to the growing demand.
Commenting on the development, Mr. Siddharth R Dungarwal, CEO & Founder, Snitch, says, “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 has already achieved a huge acknowledgment in the industry with its recent appearance on Shark Tank India wherein it has successfully bagged an all-sharks deal, securing ₹1.5 crore for 1.5% equity from all five eminent judges. This has been a true testament to Snitch’s tremendous success and potential growth to spearhead the industry. The eminent investors on the SharkTank included experts like Anupam Mittal Founder-CEO of Shaadi.com – People Group; Aman Gupta, Co-Founder-CMO of boAt; Namita Thapar, Executive Director of Emcure Pharmaceuticals; Vineeta Singh, Co-Founder-CEO of SUGAR Cosmetics; Peyush Bansal, Founder-CEO of Lenskart and Amit Jain, Co-Founder-CEO of CarDekho Group and InsuranceDekho.
About Snitch
Snitch, a 2019-founded menswear D2C fashion brand, creates sustainable and thoughtful collections keeping in mind the newest trends. Additionally, Snitch Plus is a collection offering plus sizes that make a bold fashion statement for men of all sizes while bringing out the best in their personalities through the transforming power of clothing. The brand offers an extensive assortment of everyday style essentials, such as formal Shirts, party wear, leisurewear, athleisure wear, etc.
