Men’s apparel company Snitch is renowned for its stylish yet reasonably priced designs. They performed well on Season 2 of Shark Tank India. They sell jeans, shirts, T-shirts, and a variety of other male items. Both their own website and their app offer their stuff. Since its founding in 2020, Snitch has shipped more than 2000 orders daily. The company’s goal is to become the largest menswear brand in India before concentrating on international markets. They wanted 0.5% of the business for ₹1.5 crores. At the time of their proposal, Snitch had 50,000 daily active website users and over 5 lakh app downloads.
Their average order value is ₹1700, and their conversion rate ranges from 2.5 to 2.8%. They see themselves as a mass-premium brand that falls somewhere between H&M and Max. They have seven or eight designers on their own design team. Of their ₹9.3 Crores in sales last month, ₹6 Crores came from their website alone. The company only began using marketplaces two months ago, but they have already generated ₹1 crore.
The remainder comes from offline sales. They have a 48% gross margin and a 24% marketing spend. With an EBITA of 5% after all operating costs, the business made ₹50 Lakh. As of their Shark Tank pitch, the company is entirely self-funded, yet they owe ₹4.5 crores. In FY21–22, they generated ₹44 crores, and FY22–23 sales are expected to reach ₹100 crores.
Company Name: Snitch.Co
Founder: Siddharth R Dungarwal
Product: Men’s Fashion
Highlights
1. Snitch.Co provides fashionable men’s clothing with an eye toward quick design changes, fast-fashion for guys.
2. Mostly sold through its own website and online platforms, the Direct-to- Consumer (D2C) Model removes middlemen.
3. Launches fresh designs in as short as 21 days, following fast-changing fashion trends, keeping quick turnaround times.
4. Targeting young consumers in the mid-range fashion market, affordable pricing aims to be competitive.
5. Excellent Increase in Income Showcased amazing market traction and brought in ₹100 crore in income over two years.
6. Originally catering B2B, pivoted to D2C — Originally provided clothing to stores but subsequently moved to direct customer sales.
Pitch Details
Ask: ₹1.5 crore for 0.5% equity, valuing the company at ₹300 crores.
Deal: After negotiation Namita Thapar, Anupam Mittal, Vineeta Singh, Aman Gupta and Peyush Bansal finished the deal at ₹1.5 crore for 1.5% equity.
Investors: : The investment came from Namita Thapar, Anupam Mittal, Vineeta Singh, Aman Gupta and Peyush Bansal.
Conclusion
With its quick expansion, robust D2C business strategy, and ₹100 crore in just two years—strong income—Snitch.Co amazed the sharks The brand’s promise in the men’s fast-fashion sector was shown by its capacity to rapidly introduce fresh designs and fit current fashion trends. But the sharks worried about scalability and competitiveness in the fashion industry since the ₹300 crore valuation seemed overly expensive. Snitch.Co did not so obtain a contract for the show. Still, the brand kept expanding using its well-known consumer base and established market position.
