Snitch to Open 10 New Offline Stores: Snitch, a men’s direct-to-consumer fashion brand, aims to establish 10 new retail outlets in January to strengthen its omnichannel presence.
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Co-founder and CEO said on Snitch to Open 10 New Offline Stores
Siddharth Dungarwal, cofounder and CEO of Snitch, said on LinkedIn that three additional locations will open in Bengaluru, with one each in Delhi, Hubli, Chennai, Guwahati, Pune, Rajahmundry, and Lucknow. With this, the startup’s overall store count will reach 45.
The year 2025 begins with ten new Snitch boutiques and a daring mission: to reinvent fashion! Are you prepared for this? Back in 2024, we waited 6 months to open our second store; in the following 8 months, we opened 34 stores, with 10 more opening in January. “2025 is going to be a roller coaster ride for sure,” Dungarwal wrote in his post.
Snitch to Open 10 New Offline Stores Expansion of Stores
The CEO told the media that the firm intends to “aggressively expand” its offline presence, to reach 100 stores total. As part of this, it expects to open around 65 new stores this year.
“This expansion will not only increase our market penetration but also solidify our presence as a leading fashion destination across India,” Dungarwal said in an interview.
Snitch Funding Rounds, Shark Tank India Funding
Snitch’s offline growth comes a year after it raised $13.19 million in a Series A funding headed by SWC Global and IvyCap Ventures. The firm was also included in Inc42’s FAST42 list for 2023, which highlights developing D2C brands in the country.
In 2023, the startup appeared on the TV show Shark Tank India and received an all-shark deal of INR 1.5 crore from Aman Gupta (boAt), Namita Thapar (Emcure Pharmaceuticals), Anupam Mittal (Shaadi.com), Peyush Bansal (Lenskart), and Vineeta Singh (SUGAR).
Snitch to Open 10 New Offline Stores: Snitch’s Competitors, Snitch Profit, Revenue
It competes with brands such as XYXX, DaMENSCH, Chromozome, BlissClub, Freecultr, and Bombay Shirt Compa Snitch earned a net profit of INR 4.4 crore in the fiscal year 2023-24 (FY24) on operating revenue of INR 243 crore.
Snitch’s offline expansion spree comes a year after it bagged $13.19 Mn in its Series A round co-led by SWC Global and IvyCap Ventures. The startup is also featured in the 2023 edition of Inc42’s coveted FAST42 list, which captures emerging D2C brands in the country. While three new stores will be opened in Bengaluru, one each will come up in Delhi, Hubli, Chennai, Guwahati, Pune, Rajahmundry and Lucknow.
Cofounder and CEO Siddharth Dungarwal told Inc42 that Snitch plans to open more than 65 new stores this year to take its total store count beyond 100. Snitch’s offline expansion spree comes a year after it bagged $13.19 Mn in its Series A round co-led by SWC Global and IvyCap Ventures.
About the Company
Snitch, founded in 2019 by Siddharth Dungarwal and Chetan Siyal, began as an offline retail brand before transitioning to internet sales a year later after pandemic-induced lockdowns closed physical retail establishments across the country. It sells a variety of men’s clothing items, including shirts, coats and hoodies, co-ords, sweaters, and innerwear.
D2C Fashion Brand Snitch to open 10 new offline stores in January. Snitch’s offline expansion spree comes a year after it bagged $13.19 Mn in its Series A round co-led by SWC Global and IvyCap Ventures.
— Ascendants (@AscendantsDotIn) January 4, 2025
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