– Pitched 1.5 crores for 0.5% equity with a 300 crore valuation.
Snitch, a Bangalore-based men’s apparel brand, made a groundbreaking pitch to industry leaders on Shark Tank India Season 2, as seen in promos. Founder Siddharth R Dungarwal successfully pitched his business model as a fast-growing experimental and limitless men’s fashion brand, persuading the sharks to invest in his rapidly 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 Snitch’s pitch on Shark Tank India Season 2 has been released and can be viewed on Sony TV. To see the full episode tune in between January 23-27.
The brand, which launched in 2020 with 30 products, now boasts over 2500 outfits on its website, which generates 95% of its total sales. It has a strong presence on all digital platforms, including its own online store, marketplaces like Myntra and Ajio, and social media channels.
The company recorded an impressive annual revenue run-rate of 100 crores by the end of Q4 FY22, up from 80 crores at the end of Q1 FY22.