Snitch, the Bengaluru-born men’s fast-fashion disruptor, has hit a retail milestone by opening its 100th offline store in under 18 months since its first physical outlet in July 2024. Founder Siddharth Dungarwal celebrated the feat as proof of omnichannel mastery, blending D2C roots with mall/high-street dominance to capture Gen Z and millennial wallets in India’s $110 billion menswear market.
From Pandemic Scraps to 100 Stores
Snitch launched in July 2020 amid COVID chaos, born from Dungarwal’s desperation. A B2B apparel supplier for eight years, he faced 100% revenue wipeout when lockdowns killed retailer orders, leaving warehouses stuffed with unsold stock. Instead of folding, Dungarwal pivoted to D2C with 30 SKUs on Shopify and a four-person team—no marketing playbook, just survival instinct. “We didn’t know D2C; we were reacting,” he later shared.
That gamble exploded: weekly drops of trendy shirts, jackets and accessories at ₹500-2,000 resonated with young men craving Zara-like style sans premium tags. By FY24, revenue hit ₹243 Cr (128% YoY); FY25 unaudited numbers crossed ₹520 Cr (~110% growth), with EBITDA surging 5x to ₹30 Cr. Offline now drives 40-45% sales (up from 30%), boasting 50-60% store conversion vs 3-4% online and 2-3x AOV.
Siddharth Dungarwal’s Gritty Rise
Dungarwal’s story screams hustle. Dropping out early, he bootstrapped a buying house sourcing for retailers, mastering supply chains amid volatile cotton prices and delays. Lockdown forced reinvention: selling surplus via Instagram reels and quick commerce. Early struggles? Zero brand recall, fake reviews, returns eating 25% orders. He cracked it via data-led sizing, 7-day exchanges and creator collabs (e.g., YouTubers styling drops).
Today, at 30-something, Dungarwal holds 50.3% stake, eyes ₹1,000 Cr FY26 revenue, global push (Middle East 2026) and IPO post-₹100 Cr profits. Valuation: ₹2,500 Cr post-Series B. “From small shop to iconic brand,” per his LinkedIn reflections.
Funding Fuels Hypergrowth
Total raised: ~₹450 Cr ($54M). Key rounds:
Proceeds target quick commerce (Bengaluru pilot, pan-India 2026), plus-size/footwear/bags/sunglasses launches, 300 stores by 2027.
Offline Blitz: The Omnichannel Code
First store: Bengaluru July 2024. Now 100 across metros (Bengaluru 20+, Delhi, Mumbai, Hyderabad), high streets/malls. Q4 2025 adds 50 more. Why offline? Touch-feel sizing, impulse buys, loyalty (stores yield 2x repeats). Quick commerce (60-min delivery via stores as dark stores) starts Bengaluru, eyes Delhi/Mumbai. 40% revenue offline signals D2C maturity.
Industry Insights: D2C’s Offline Reckoning
Snitch exemplifies D2C’s pivot: pure-play online caps at 3-5% conversion; offline unlocks 50%+. India’s fashion e-tail grew 25% CAGR but offline still 90% market. Peers like Bewakoof (100 stores), The Souled Store follow suit. Fast-fashion wars rage: Shein/Temu imports vs local speed (Snitch: 2-week cycles). Gen Z demands trend velocity; Snitch wins via 500+ SKUs/month, no-inventory drops.
Challenges: Inventory bloat (20% markdowns), competition (H&M/Zara), profitability (EBITDA 6% FY25). Tailwinds: PLI textiles, q-commerce explosion.
Snitch’s playbook—crisis pivot, data obsession, omnichannel aggression—positions it for ₹1,000 Cr club. Dungarwal: “India’s fashion heart, global stage.” From lockdown panic to 100 stores: the ultimate stitch-up.
Read this: Snitch Enters Quick Commerce, Launches 60-Minute Fashion Delivery in Bengalore
