Men’s fashion brand Snitch, recognised for its strong foothold in Tier-1 and Tier-2 cities, is set to expand its retail presence into smaller cities and towns.
As part of the brand’s plan to build 7-8 stores in the current fiscal year, this expansion will start with the inauguration of new offline locations in Surat and Bangalore. The idea would eventually come to encompass important cities like Hyderabad and Mumbai, hence expanding Snitch’s reach.
Under the leadership of Snitch’s founder, Siddharth Dungarwal, the business is concentrating on expanding into Tier-3 and Tier-4 areas. Using the robust customer bases in major cities like Delhi NCR, Bengaluru, Pune, and Mumbai, this approach seeks to expand the brand’s reach into new markets and geographies while strengthening its team’s competencies.
Snitch plans to increase the number of its stores to 22 by the end of the following fiscal year. From its start as a B2B business in 2019 to its current position as a major industry player with revenue projections of Rs. 250 crore for the current fiscal year, this represents a remarkable evolution.
“Our financial journey has been remarkable. We started with Rs. 11 crore in net revenue in FY ’21, climbed to Rs. 44 crore in FY ’22, and reached Rs. 110 crore in FY ’23. This year, we are set to close at Rs. 250 crore,” stated Dungarwal. He also highlighted the success of Snitch’s app, introduced two years ago, which has amassed over two million downloads and contributes to 55 per cent of their revenue.
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