Men’s fashion brand Snitch raises ₹110cr to expand offline presence

Men’s fashion brand Snitch raises ₹110cr to expand offline presence

Bengaluru-based D2C fashion brand Snitch has woven a stylish success story, securing a hefty ₹110 crore in a Series A funding round co-led by SWC Global and IvyCap Ventures. This fresh capital injection will fuel the brand's ambitious growth plans, focusing on both talent and technology advancements, alongside venturing into offline retail territory.

The funding also brings Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, onto Snitch's board. He lauded the brand's "unparalleled business model, passionate founder, and differentiated approach," praising their trendsetting abilities and positioning them as industry leaders.

Snitch, known for its trendy menswear, has already achieved impressive online traction, exceeding a ₹100 crore turnover in FY23 and projecting over 100% growth in FY24. This funding boost empowers them to take their success a step further by:

Scaling up their talent pool: Building a robust team to support their ambitious expansion plans.

Investing in cutting-edge technology: Enhancing their digital platform and exploring technological solutions to streamline operations.

Building an offline retail presence: Bridging the gap between online and physical experiences with brick-and-mortar stores.

Snitch's foray into offline retail is a strategic move to cater to a wider customer base and enhance brand visibility. It also signifies their confidence in their brand and their commitment to offering a seamless omnichannel experience.

This funding round serves as a testament to Snitch's potential and reinforces the growing appetite for innovative D2C brands in the Indian market. As the brand gears up to scale its operations and establish a physical presence, it's poised to rewrite the rules of the fashion game, one stitch at a time.

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December 13, 2023

Kalpana Maurya