Snitch records Rs 120 crore revenue in FY 2023
Snitch, a direct-to-consumer men’s apparel brand has witnessed a 250 percent growth in revenue to Rs 120 crore ($15 million), as against Rs 44 crore reported in the previous fiscal year.
The brand claims it has achieved a 1 million orders over the course of the last one year and aims to double its revenue to Rs 240 crore in the financial year 2023-24.
To achieve its revenue target, Snitch will diversify its portfolio by entering new categories starting with men’s jewellery and fragrances.
The brand will also be entering the offline market with the launch of its first exclusive brand outlet in Bengaluru that will be operational by July 2023.
Commenting on the development, Siddharth R Dungarwal, CEO founder of Snitch in a statement said, “Our company has witnessed a rapid acceleration of growth over the recent years, and we are committed to moving forward with the same vigour.”
“The next financial year looks even more promising to bring even larger opportunities for Snitch and we are geared up for the same,” he added.
Founded in 2019, Snitch is a homegrown fashion brand that offers a wide range of clothing like formal wear, party wear, leisure wear, and many more categories.
Copyright © 2023 FashionNetwork.com All rights reserved.