Fast fashion Direct-to Consumer (D2C) startup Snitch is expecting its revenue to rise 80% and touch Rs 900 crore in 2025-26, as compared to around Rs 500 crore in FY25, according to its Founder & CEO Siddharth Dungarwal.
“This year the plan is to cross at least Rs 900 crore,” he said in an interaction with FE on Wednesday.
Dungarwal said that a majority of its revenue – around 55% – is expected to come from online channels. However, the offline channel has also witnessed high demand and despite being launched only 18 months ago, it will account for around 45% of the sales this year.
“We are witnessing about 2X average order values (AOVs) in offline stores as compared to online,” Dungarwal said.
Earlier this week, Snitch announced that it has raised Rs 340 crore in a round led by 360 One Asset with participation from Ravi Modi, founder of Vedant Fashions.
With this money, the company is targeting to fuel its offline expansion as well as enter the quick commerce market.
Dungarwal said that from around 60 stores at present, they will take the total store count to 100 by December. All of these stores will also operate as dark stores to meet the online demand.
Out of these 100 stores, the company would own around 80 stores, and 20 would be under the franchise model.
Moreover, almost all of these stores would be located in high-street locations as they offer better returns to the firm, he added.
“Atleast 80-90 of these would be in high-streets and the rest in malls,” he said.
On quick commerce, Dungarwal said that the main aim is not to make this channel a large growth lever for the company yet, but to improve customer satisfaction.
“We just want to delight consumers and that’s the only reason why we are doing quick commerce,” he said.
Recently, the company also launched its plus-size range, Snitch+. Dungarwal said the demand for these products is rising 3-4X month-on-month.
“We firmly believe that the plus-size could become a very strong category for us,” he said.