Pitched the funding of 1.5 crores for 0.5% equity with the current valuation of the company as 300 crores
Snitch, a Bangalore-based homegrown D2C men’s apparel brand made its path-breaking pitch to the industry-leading investors at the Shark Tank India Season 2. The promos of the pitch are already being aired which significantly hints on how promisingly Siddharth R Dungarwal, Founder, Snitch pitched his business model to the sharks.
A young leader and promising entrepreneur, Siddharth represented India’s fastest-growing experimental and limitless men’s fashion brand, made a unique pitch, and successfully persuaded them to invest in his fastest-proliferating business.
As per the promo Siddharth stated, “Snitch is the fastest growing fast fashion brand for men, that is 100 percent made in India, ships 2000+ orders on a daily basis.” further pitching on the investment, “1.5 crores for 0.5% equity with the existing valuation of 300 crores.” As per the promo, this trail-blazing pitch has made the investors remain awe-struck.
The sneak peek of the pitch has been released already and its promos are live on Sony Tv. To know more about it, watch the entire episode that is expected to be aired between the 23rd to 27th of January.
The company, which entered the fashion industry in 2020 with 30 products, currently has 2500+ outfits added to its online portal from where it generated 95% of its total sales. The brand also marks a strong presence across the nooks and corners of all digital platforms in the country through its own online store, marketplaces like Myntra and Ajio, and varied social media channels.
Recently that brand recorded an impressive annual revenue run-rate of 100 crores by the end of Q4 FY22 after achieving 80 crores at the end of Q1 FY22, which is commendable.