Snitch aims to reach Rs 600 crore GMV by FY24 end

Men’s apparel brand Snitch aims to achieve a gross merchandise value total of Rs 600 crore by the end of the 2024 financial year on March 31. The direct to customer business has maintained a quarter-on-quarter revenue growth rate of 30% to 35% for the past two years and expects to see double digit growth continue.  

Snitch has achieved a GMV of Rs 400 crore is is confident this will continue to rise swiftly, the Economic Times reported. The business also expanding its brick-and-mortar footprint across India and attributes its recent offline expansion to a recent 35% to 40% rise in sales and revenue. 
 
“This achievement reflects the trust and support of our valued customers, as well as the dedication and hard work of our entire team,” said Snitch’s founder Siddharth Dungarwal, ET Retail reported. “With our relentless pursuit of innovation and ability to stay ahead of the fashion curve, we remain committed to pushing boundaries, setting new trends, and providing our customers with the best affordable style.” 

Snitch recently held a Series A funding round and raised Rs 110 crore. The business plans to use the capital to further expand its retail footprint.