Ramgandhi will be responsible for bringing advanced and seamless customer experience and technological strategies that align with the company’s business objectives
New Delhi: Bengaluru-based men’s fashion and apparel brand Snitch has appointed Maruthy Ramgandhi as its first chief technology officer (CTO), the company said in a release shared exclusively with IndiaRetailing.
Maruthy, who is appointed as the first CTO for the D2C brand is an 18-year veteran who has worked with companies like Stumbl, Amazon, McKinsey & Co., Bewakoof.com, Ajio and Commonfloor.com.
“We are so excited to welcome Mr. Maruthy to our team. His extraordinary communication skills, enthusiasm, and brilliant presentation skills will add value to our team. His versatile role is what primarily we are looking forward to, which we believe is required at the given time,” said Siddharth Dungarwal, founder, Snitch.
In his new role as chief technology officer, Ramgandhi is set to focus on developing the company’s product strategy towards innovation, bringing super-advanced and seamless customer experience. At the same time, he will also ensure that emerging technologies are being capitalized efficiently, profitably, and securely, said the release. He will also be responsible for overseeing the development and implementation of technological strategies that align with the company’s business objectives.
“After spending more than a decade in e-commerce technology roles globally, I’m thrilled to join Snitch as the CTO. The company has made an impressive journey from 0 to 1, driven by its strengths in unique designs and fast trend adoption. Looking ahead, we have exciting plans to grow our distribution and offer a top-notch shopping and delivery experience to our customers. I’m enthusiastic about leading the technology efforts to make this happen,” said Ramgandhi.
IndiaRetailing had earlier reported on how the brand eyes offline expansions with plans to launch around 20 new stores this year. The company in the last couple of months hired Varun Muralidharan, former retail manager at Bestseller India, to lead retail operations and projects. The company also onboarded Mayur Ashtekar from Rare Rabbit as lead for business development and offline expansion.
Snitch has recently launched two new stores in Surat with plans to open more in the state and other parts of the country. The company witnessed twice the growth in gross merchandise value (GMV) from the first quarter Q1 to Q4 in the fiscal year 2023 and achieved 400 crore GMV with a projected GMV of RS 600 crore by the end of the fiscal year 2024.
It has maintained a growth of 30-35% increase in average quarter-on-quarter (Q-o-Q) revenue in the last two years. With a recent development in offline retail by the brand, the company sees a 35-40% Q-o-Q increase in further sales and revenue as the company continues to expand its physical retail footprint with a plan of introducing 30-40 stores over the next two years.
Started in the year 2020 as a D2C brand, Snitch made headlines by appearing on Shark Tank India Season 2 and being the only brand to secure an all-Shark Deal. Snitch has also raised Rs 110 crore in its Series A funding round from Singapore-based venture capital firm SWC Global and Indian venture firm IvyCap Ventures.
