Snitch, a direct-to-consumer men’s fashion brand, has reached a gross merchandise value (GMV) of INR 400 crore. Setting its sights high, the brand aims to surpass this achievement by reaching a milestone of INR 600 crore GMV by the end of the fiscal year 2024.
The brand asserts that it has sustained an average quarter-on-quarter (QoQ) revenue growth of 30-35% over the past two years. Additionally, with its offline expansion, Snitch has witnessed a quarterly surge in sales and revenue, ranging between 35-40%.
Continue Exploring: Fashion brand Snitch unveils ambitious growth plans: Eyes 7-8 offline stores in FY24 for deeper presence in Indian cities and towns
Approximately 80% of the brand’s overall operating revenue is derived from the men’s apparel category.
“This achievement reflects the trust and support of our valued customers, as well as the dedication and hard work of our entire team. With our relentless pursuit of innovation and ability to stay ahead of the fashion curve, we remain committed to pushing boundaries, setting new trends, and providing our customers with the best affordable style.” said Siddharth Dungarwal, founder, Snitch.
The company recently secured INR 110 crore in a series A funding round and plans to use the funds to expand its retail footprint.
Continue Exploring: Snitch eyes offline retail expansion after raising $13.19 Million in Series A funding round
