D2C fashion brand Snitch’s net profit climb 1.3X to INR 4.4 Cr FY24 from INR 3.1 Cr in FY23, thanks to a robust top line increase

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Snitch’s operating revenue increased by 127.89% to INR 243 crore in the fiscal year under review, up from INR 106.6 crore in FY23

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The revenue rise, according to Dungarwal, was driven by product expansion and increased online sales

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Profit growth was due to online marketplaces, push for its iOS & Android apps. Founder noted that internet sales now account for 70% of overall sales

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Pilot areas like shoes, accessories, and perfumes benefited greatly from data-driven insights

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In keeping with the growth in sales, Snitch's expenses increased by 132.15% to INR 236.1 Cr in FY24 from INR 101.7 Cr the previous fiscal year

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Snitch previously raised INR 110 crore ($13.19 million) in a Series A fundraising round headed by SWC Global and IvyCap Ventures

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Snitch is focusing on offline expansion, keeping a strong digital presence. It has opened 34 offline outlets in the last 8 months, to add 10 more in Jan 2025

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Hybrid strategy is likely to result in a 125% rise in revenue, offline outlets to bring 30% of total sales. Remaining 70% of sales will come through digital means

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