The men’s fast-fashion brand recorded strong revenue growth while expanding its offline retail network and entering quick commerce, although rising procurement and marketing costs kept it in the red.
Men’s fashion brand Snitch reported a 67.7% year-on-year increase in revenue from operations to Rs 835 crore in FY26, compared with Rs 498 crore in FY25. Founded in 2020 by Siddharth Dungarwal, the Bengaluru-based direct-to-consumer (D2C) brand has scaled its revenue 3.4 times over the past two fiscal years.
Snitch sells men’s apparel and accessories through its website and mobile application, with these categories accounting for its entire operating revenue. The company also earned Rs 14 crore in other income, primarily through interest on deposits and long-term investments, taking its total income to Rs 849 crore in FY26.
The brand is expanding its distribution through both offline retail and quick commerce. According to its website, Snitch operates 142 stores across India, covering metropolitan and Tier II markets. Its entry into quick commerce is aimed at extending its reach and delivery capabilities.
However, scaling operations has also increased costs. Procurement of apparel and accessories remained the largest expense, rising 92.2% to Rs 444 crore from Rs 231 crore in FY25. The company also spent Rs 108 crore on advertising and marketing, while employee benefit expenses reached Rs 81 crore.
Higher marketplace charges, rent, delivery costs and other overheads further increased expenditure. Consequently, total expenses rose 71.9% to Rs 873 crore from Rs 508 crore in the previous fiscal year.
With expenses growing faster than revenue, Snitch reported a net loss of Rs 27 crore in FY26. The company spent Rs 1.05 to earn every rupee of revenue, while its return on capital employed (ROCE) stood at -8.6% and EBITDA margin at -3%.
Snitch has raised over $53 million to date, including a $40 million Series B round led by 360 ONE Asset in June 2025.
The brand competes with The Souled Store, Rare Rabbit and Wrogn. The Souled Store reported Rs 492 crore in FY25 revenue, Rare Rabbit recorded Rs 818 crore, while Wrogn reported Rs 244 crore in FY26 revenue.
As Snitch scales, improving cost efficiency and converting revenue growth into sustainable profitability will be central to its next phase.
Source: Based on publicly available reporting, with additional editorial adaptation and analysis.
