How did Snitch grow so fast?

How did Snitch grow so fast?

Snitch sold ₹835 crore worth of men's clothing last year, as per the accounts it just filed.

In early 2023, it was on Shark Tank India, taking ₹1.5 crore from all five sharks.

The growth is real, and so is the bill that came with it.

Snitch didn't start as a brand you could buy from.
Founder Siddharth Dungarwal launched it in 2019 as a B2B business B2B = selling to shops, not to you, making men's clothes for retailers.

Then Covid closed the shops, and the stock had nowhere to go.
So in 2020 he took the brand online and started selling straight to customers.

The second thing that worked was speed.
Snitch is a fast fashion brand Fast fashion = turning a new trend into clothes you can buy within weeks, not seasons.
In interviews, the founder has said it puts new styles on its website every day.

Then it did something you don't expect from an online brand, and opened real stores.
By April 2026 it had 115 of them, and offline was already about 40% of sales, according to the founder.

In October 2025 it launched Snitch Quick, which delivers clothes within 60 minutes in cities like Bengaluru, Delhi and Ahmedabad.
That alone is about 10% of its online sales now.

Here's how the numbers moved:
-> FY24: about ₹240 crore in sales
-> FY25: ₹498 crore
-> FY26: ₹835 crore
-> 2025: investors valued it at about ₹2,500 crore

Now the twist.
In April, the founder shared early numbers of about ₹900 crore in sales and a small profit on the core business.
Those were unaudited Unaudited = not yet checked by an outside auditor.

The final accounts, filed with the RoC RoC = the government office where companies file their yearly accounts, show something else.
Sales of ₹835 crore, and a net loss of ₹27 crore Net loss = what's left after every cost is paid, and it's below zero.

Ek aur cheez.
A year earlier, that loss was just ₹1.7 crore.
Bhai, sales grew about 68% and the loss grew about 16 times.

So where did the money go?
Buying stock cost ₹444 crore, almost double the ₹231 crore of the year before.
Ads took ₹108 crore, up 30%, so those Snitch ads on your feed were not cheap.

The Brutal Reality:
Snitch is buying growth Buying growth = spending more today to get bigger tomorrow, even if you lose money on the way.
The founder is aiming for about ₹1,400 crore in sales this financial year.

Snitch has shown it can sell fast.
Now it has to show it can sell fast and still keep some money.

✍🏻 Mantra Joshi

✍🏻 Mantra Joshi

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