{"id":266,"date":"2025-01-17T11:38:11","date_gmt":"2025-01-17T11:38:11","guid":{"rendered":"https:\/\/elixrretail360.com\/blog\/?p=266"},"modified":"2025-06-06T06:43:02","modified_gmt":"2025-06-06T06:43:02","slug":"snitch-on-an-expansion-spree-to-cross-50-stores-soon","status":"publish","type":"post","link":"https:\/\/elixirretail360.com\/blog\/snitch-on-an-expansion-spree-to-cross-50-stores-soon\/","title":{"rendered":"Snitch on an expansion spree \u2013 to cross 50 stores soon"},"content":{"rendered":"\n\n\n

Snitch, the fast fashion apparel brand has opened 34 stores in the past 8 months and plans to open 10 new stores all through Jan. \u201825, Siddarth Dungarwal, CEO and Founder, shared on his LinkedIn Post.<\/p>

The new stores are coming up at Lucknow, Rajmundhry, Hubli, Bangalore, Chennai, Guwahati, Pune and Delhi.<\/p>

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Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s.<\/p>\n\n\n\n\n

The company has crossed INR 100 Cr in revenues during FY 2022-23 and has posted a net profit as well<\/p>

For FY 23, Snitch reported INR 106.6 Cr in revenues with a net profit of INR 4.4 Cr.<\/p>

Snitch sells a range of men\u2019s apparels, including shirts, jackets, hoodies, co-ords, sweaters, innerwear, among others.<\/p>\n\n\n\n\n\n\n\n\n\n

Founded in 2018, the brand wanted to disrupt the menswear market with stylish and affordable clothing which is stylish and fashionable.<\/p>

The initial focus was creating a brand resonating with young professionals seeking trendy yet sophisticated attire.<\/p>

In 2023, Bollywood actor Vicky Kaushal became the brand ambassador, bringing significant visibility and credibility to Snitch. The partnership included exclusive collections and promotional campaigns, which resonated with the target audience. <\/p>\n\n\n\n\n\n\n\n\n\n

Editor\u2019s Note<\/p>

Snitch has raised INR 115 Cr (USD 13.5 Mn) till date over 2 rounds from marquee investors. The company was valued at INR 500 Cr (USD 62 Mn) in Dec. \u201823.<\/p>

The opportunity with investments for offline brands like Snitch is a quick go-to market access with new stores across key markets. However, this is also where most brands fail.<\/p>

Massive expansion comes with challenges such as understanding local preferences of materials and fabrics used, colours, fashion designs, etc.<\/p>\n\n\n\n\n\n\n\n\n\n

Availability of high quality real estate comes at a cost and start-up manage to get these locations as they are loaded with funds. However, to sustain the footfalls for more than 4 seasons (2 years, roughly) \u2013 that is when the challenge begins.<\/p>

The GenZ and Millenial consumers are not as loyal as their previous generations and therefore, move on to the next new thing. Especially, when there is another start-up which has appeared in the same space.<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":274,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[11],"tags":[19],"class_list":["post-266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fashion","tag-menswear"],"yoast_head":"\nSnitch on an expansion spree \u2013 to cross 50 stores soon - Elixir Retail<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/elixirretail360.com\/blog\/snitch-on-an-expansion-spree-to-cross-50-stores-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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