Snitch, the popular menswear fashion brand that appeared on Shark Tank India Season 2, has secured a significant $13 million in a Series A funding round. This investment, co-led by SWC Global and IvyCap Ventures, comes as a major boost to the brand’s expansion plan, focusing on talent, technology, and a strategic offline retail push.
Snitch captivated audiences on Shark Tank India with its innovative approach to men’s fashion, securing a Rs 1.5 crore investment from all six judges, including Anupam Mittal, Aman Gupta, Namita Thapar, Vineeta Singh, Peyush Bansal, and Amit Jain. This early backing served as a springboard for the brand’s growth, and the recent Series A funding further solidifies its trajectory.
The funds raised will be strategically allocated to key areas:
Talent: Snitch plans to invest in acquiring and retaining top talent across various departments, including design, technology, marketing, and operations. This focus on building a strong team will be crucial in driving the brand’s ambitious growth plans.
Technology: Snitch recognizes the importance of technology in enhancing customer experience and streamlining operations. The investment will fuel the development of a robust technology infrastructure, including advanced e-commerce platform, data analytics tools, and personalized recommendations.
Offline Retail: While Snitch has established itself as a successful online brand, the company recognizes the importance of a physical presence. This Series A funding will pave the way for the opening of over 100 offline stores across India by 2028, providing customers with a more immersive brand experience.
Financial Highlights:
- Snitch crossed Rs 100 crore in revenue for FY23, demonstrating its strong financial performance and growing customer base.
- The company intends to leverage the Series A funding to achieve even greater financial success in the coming years.
Overall, the Series A round marks a significant milestone for Snitch. With a strong track record, a talented team, and a clear growth strategy, the brand is well-positioned to become a leading player in the D2C menswear market.
