Siddharth Dungarwal, founder of Snitch talks about the brand’s expansion strategy and areas of focus
New Delhi: 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 also raised Rs 110 crore in its Series A funding round. The company has acquired about 1.5 million customers now, and the target is to reach 25 million plus consumers in the next four years.
With plans to expand its product offerings to include accessories, fragrances, and innerwear, Snitch aims to offer complete wardrobe solutions for men. Currently, the brand has one store in Bengaluru and two in Surat, and around eight in the pipeline in locations like Gujarat, Mumbai, Rajkot, Chennai and Karnataka.
In an exclusive interaction with Images Retail, Siddharth Dungarwal, founder, Snitch talks about the brand’s robust expansion strategy and the markets being explored. Excerpts…
What makes Snitch unique?
Snitch stands out through its commitment to capturing the pulse of global fashion trends and tailoring them with a unique, local twist. The ability to rapidly adapt and bring fresh, runway-inspired looks to the market at accessible price points sets us apart. This agility, combined with a keen focus on quality and customer experience, fuels our popularity.
How do you position your brand within the market?
We believe Snitch bridges the gap between high-street and luxury, providing fashion-forward, quality menswear without the premium price tag. Our brand ethos resonates with modern men who value style, quality, and individuality.
Can you share your expansion strategy?
Our expansion strategy is anchored in a mix of data-driven market analysis and community engagement. We’re targeting cities with vibrant, fashion-conscious populations, enhancing our online presence, and have started to explore offline markets rapidly to replicate the love and success we’ve seen online. We have our offline stores in Bengaluru Jayanagar and in Surat at VR Mall and Varachha. We are planning to launch four stores in Bengaluru, three in Gujarat and also in Hyderabad. Also, the stores in Mumbai, Rajkot and Chennai are in the pipeline and we will make announcements about them soon.
In the short term, the brand plans to open seven to eight new stores in the current financial year and reach a total of 20 stores annually in the coming years. This expansion is part of a vision to become India’s number-one men’s fashion brand within five years, with a strong focus on the Indian market before considering international expansion.
Please share the growth rate and revenue.
In the last fiscal year, we closed at Rs180 crore Gross Merchandise Value (GMV). We would be closing at Rs 400 GMV by the end of this fiscal year and the projected GMV would be Rs 600 crore by the end of the year 2024.
What unique selling points do you emphasize to attract customers?
Our USPs include rapid trend adoption, high-quality fabrics, and distinctive designs. Moreover, our commitment to sustainability and ethical production adds value, attracting customers who prioritize responsible fashion choices.
How do you meet the expectations of your target audience?
Quality is paramount for us. From sourcing premium materials to implementing rigorous quality control checks at every production stage, we ensure that our products not only meet but exceed customer expectations. We regularly seek feedback from our customers to understand their needs and preferences better. This feedback helps us continually improve our products and ensure that they meet the expectations of our target audience.
Which brand awareness strategies do you employ?
We employ a multifaceted approach to brand awareness, combining digital marketing, influencer partnerships, and compelling storytelling through our marketing channels. Engaging content and immersive experiences help attract and retain customers.
Tell us about your marketing initiatives?
Our brand values and identity are communicated through every touchpoint, from product design to customer service. We leverage social media, our website, and packaging to consistently convey our commitment to quality, innovation, and sustainability.
How do you plan to expand your distribution network?
We plan to expand our distribution network by enhancing our e-commerce platform, exploring strategic partnerships, and opening new physical locations in key markets to make our products more accessible to a global audience. By adopting these strategies, we believe we can expand our distribution network and reach new customers, further establishing Snitch as a prominent player in the men’s fashion segment.
How do you ensure customer satisfaction?
Customer satisfaction lies at the heart of our strategy. We focus on providing exceptional service, engaging with customers through social media, and offering loyalty rewards. Feedback is continually used to improve our offerings. We also run promotions and exclusive offers to reward our customers and keep them engaged with our brand.
Overall, social media and word of mouth help us stay connected with our customers and build lasting relationships with them.
Do you embrace sustainability?
We’re implementing eco-friendly production methods, ethical labour practices, and initiatives like using sustainable materials and reducing waste to promote responsible fashion.
How does your brand adapt to emerging fashion trends?
Staying ahead of trends is crucial. We closely monitor global fashion movements, customer feedback, and market research to swiftly adapt our collections, ensuring we’re always on the forefront of fashion.
How do you keep the brand agile and responsive to changes?
Our agility is maintained through a lean operational model, embracing innovation, and fostering a culture that values flexibility and rapid response to market dynamics and consumer behaviour changes.
