How is Snitch.co.in doing after Shark Tank India?

• Founder: Siddharth R Dungarwal
• Business: Men’s Fashion
• Ask: ₹1.5 crores for 0.5% Equity
• Valuation/Net worth: ₹300 Crores
• Result: ₹1.5 crores for 1.5% Equity
• Sharks: All Shark Deal
• Episode: Season 2 Episode 20

Snitch Shark Tank India Pitch:

Snitch is a men’s clothing brand known for offering trendy and affordable styles. They made a successful appearance on Shark Tank India Season 2. They sell shirts, T-shirts, denim, and many other menswear products. Their products are available through their app and their own website. Snitch was started in 2020, and they ship over 2000 orders every day. The vision of the company is to become India’s biggest menswear brand and then focus on global markets. They sought ₹1.5 Crores for 0.5% of the company.

Snitch had over 5 Lakh app downloads and 50,000 daily active website users at the time of their pitch. Their conversion rate is between 2.5-2.8%, with an average order value of ₹1700. They consider themselves a mass-premium brand positioned between Max and H&M. They have their own designing team of 7-8 designers.

Their last month’s sales were ₹9.3 Crores, out of which ₹6 Crores came directly from their website. ₹1 Crore came from marketplaces, which the company only started using two months ago, and the rest comes from offline business. Their gross margin is at 48%, and marketing expenses are at 24%. After all operational expenses, their EBITA is at 5%, meaning the company made ₹50 Lakh. The company is bootstrapped as of their pitch on Shark Tank, but they have a debt of ₹4.5 Crores. They made ₹44 Crores in FY21-22, and projected sales for FY22-23 are at ₹100 Crores.

Snitch Shark Tank India Negotiations:

Anupam says that the company would require more than ₹1 Crore to grow globally. Peyush suggests that all sharks come together for ₹1 Crore, to which Anupam said they should do ₹1.5 Crores. So they offer him an all-shark deal for ₹1.5 Crores for 1.5% of the company. Siddharth accepts that offer without any hesitation, and they shake hands on that deal.

Who is the founder of Snitch?

Siddharth R Dungarwal founded Snitch. He hails from Bangalore and is a B.Com graduate. Siddharth describes himself as a hardcore hustler who has always had a passion for clothing.

How is Snitch doing after Shark Tank India?

Our research into the company revealed that its deal with sharks did indeed close after the show aired, and Snitch has been thriving since. As of November 2023, their website is ranked #6 in fashion and appeal rankings in India with an estimated total traffic of 4.5 Million visitors, competing with names like Adidas, Puma, Nike, and H&M. Snitch has expanded its line of products and has added accessories like sunglasses, perfumes, and hats to their portfolio. They have over 500K followers on Instagram and are growing rapidly.

Source: Snitch Instagram

Here are other companies from Season 2 Episode 20.