D2C fashion brand Snitch posted an operating revenue of INR 520 Cr in the financial year ended March 2025 (FY25), its founder and CEO Siddharath Dungarwal said.

This is almost double than the revenue of INR 243 Cr it reported in FY24.

Dungarwal told Inc42 that the startup’s EBITDA zoomed almost 5X year-on-year to about INR 30 Cr in FY25. However, he didn’t disclose the net profit number. .

The CEO cited reduction in promotional expenses as one of the reasons for the improvement in the startup’s profitability. He said that Snitch’s marketing costs dropped 50% in FY25 due to offline expansion, with 80% of sales coming from its own channels.

“With this, the marketplace has become a very small business for us, roughly accounting for 15% of our total revenue,” said Dungarwal.

Snitch currently operates 51 stores in the country across Ahmedabad, Delhi, Hyderabad, Pune, among others. The cofounder claimed that each of the stores is profitable and has a strong retention rate.

“Over the period of four-five years, we have also built a brand… and a strong brand drives loyalty and retention. Our retention has been phenomenal at both order and revenue levels – exceeding 100%. This, in turn, means that our marketing costs continue to decrease. Additionally, many consumers who previously shopped online are now purchasing offline, with their offline spending increasing by nearly 2.5 times,” Dungarwal added.

Founded in 2019 by Dungarwal, Snitch started its journey as an offline retail brand. It pivoted to online sales a year later as Covid-19 lockdowns shut retail stores across the country.

Currently, Snitch sells a range of men’s apparels, including shirts, jackets, hoodies, co-ords, sweaters, innerwears, among others, via its own website, stores, and ecommerce marketplaces.

The startup now plans to enter pluswear, bag, footwear, and sunglasses categories in FY26.

Besides, it would continue to focus on offline expansion. Dungarwal said that Snitch is on track to launch 50 new stores in the next six months.

Snitch earned about 40-45% of its revenue from its retail stores in FY25, up from 30% in the previous year.

Besides expansion in India, the fashion brand has also set its sights on global expansion. As part of this, it plans to begin a pilot in the Middle East by December 2025.

The startup is looking to double its operating revenue to INR 1,000 Cr in FY26.

Responding to a question on potential IPO, Dungarwal said he is looking for a public listing. But he clarified that the preparations for the IPO will begin only after the startup achieves a profit of INR 100 Cr.

Backed by the likes of SWC Global and IvyCap Ventures, Snitch has raised a total funding of about $13.4 Mn to date.

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