Snitch Revolutionizes Indian Men’s Fashion via Shark Tank Platform

Shark Tank India has revolutionized India’s entrepreneurial scene, offering young startups funding opportunities and national exposure during prime-time TV. Among its standout participants is Snitch, a Bengaluru-based men’s fashion brand, which has captured attention for its impressive growth and strategic innovations.

Shark Tank Success

Snitch made waves on Shark Tank India for achieving a ₹100 crore valuation within just two years as a bootstrapped company. This achievement secured a rare investment of ₹1.5 crore for 1.5% equity from all five sharks.

According to Siddharth Dungarwal, Snitch’s CEO and founder, the platform not only enhances brand trust but also provides invaluable organic marketing, comparable to spending ₹5–8 crore. The show’s fourth season will launch on January 6, 2024, promising to continue supporting emerging brands.

Rapid Growth and Milestones

Snitch achieved remarkable milestones in 2023, including:

• Raising ₹110 crore in Series-A funding from SWC Global and IvyCap Ventures.
• Launching its first retail store in Jaipur in June 2023, with plans to operate 35 stores across 15 cities by the end of 2024 and expand to 100 stores by 2025.
• Recording ₹120 crore in FY23 revenue, a 250% increase from ₹44 crore in FY22.

Omnichannel Strategy: Online and Offline Presence

Snitch’s omnichannel approach has bolstered both trust and growth.

• The Snitch 2.0 app, launched five months ago, has crossed 2 million downloads, contributing to 70% of online revenue.
• Offline stores enable customers to touch, feel, and try products, doubling the average order value (AOV)compared to online purchases.
• Regions with a strong offline presence show increased online growth, highlighting the synergy between channels.

Dungarwal emphasized plans to open 15–20 stores in the NCR region starting January 2024 and further expand into Mumbai, Hyderabad, and Delhi, alongside growth in Uttar Pradesh, Kerala, Karnataka, and Maharashtra.

Marketing Innovations and Competition

Snitch’s maiden advertising campaign, inspired by Bollywood classics like Kabhi Khushi Kabhie Gham and Delhi Belly, humorously targets competitors such as Zara, H&M, and Super Dry. Conceptualized by BeenThereDoneThat (BTDT), the ads blend wit with brand authenticity, strengthening awareness of Snitch’s growing retail footprint.

The company allocates 15% of annual revenue to marketing, leveraging its digital presence to attract customers to physical stores without high acquisition costs.

In a competitive landscape that includes brands like Zudio, Max, and Westside, Dungarwal believes Snitch’s exclusive focus on men’s fashion offers a simplified shopping experience and superior conversion rates.

Future Prospects

Snitch’s future plans include:

• Launching a loyalty program by January 15, 2025, to enhance customer retention.
• Expanding its footprint to 100 stores by 2025, catering exclusively to men’s fashion, and tapping into India’s vast total addressable market (TAM).

By combining innovation, strategic growth, and a focus on consumer trust, Snitch is redefining India’s men’s fashion landscape.