Siddharth Dungarwal, the founder of Snitch.co.in, is an Indian entrepreneur who has made a significant impact on the men’s fast fashion industry.
Based in Bangalore, Snitch has quickly risen to prominence as a go-to brand for stylish and affordable men’s clothing.
Siddharth’s journey into the fashion world began at a young age, marking the start of an impressive entrepreneurial career.
Early Career and Entrepreneurial Spirit
At just 18, Siddharth Dungarwal launched his first venture, a small retail store named 4EVER in Frazer Town, Bangalore, in 2009.
This early foray into the retail industry ignited his passion for fashion and set the stage for his future endeavors.
Building on the success of his store, Siddharth expanded into the B2B sector, supplying merchandise to other retailers.
In 2012, Siddharth faced a significant challenge when he purchased leftover fabrics from a large manufacturer, only to encounter an audit delay that hampered his ability to sell them.
Turning adversity into opportunity, Siddharth leveraged these fabrics to produce shirts for a retailer in Mumbai, marking his entry into garment manufacturing despite having no prior experience.
The Launch and Growth of Snitch
After years of operating as a buying house and producing garments for various brands, Siddharth identified a gap in the market for fast fashion tailored to Indian consumers.
In July 2020, amid the COVID-19 pandemic’s upheaval of traditional retail, he launched Snitch as a direct-to-consumer fashion brand.
Snitch’s focus on delivering trendy, high-quality clothing at affordable prices resonated with consumers, driving rapid growth.
Within two years, Snitch achieved over 2 million app downloads and reported impressive monthly revenues.
The brand’s success is attributed to its ability to adapt quickly to fashion trends and maintain a high standard of quality.
Key Milestones and Shark Tank India
A key moment for Snitch came when Siddharth appeared on Shark Tank India. He asked for ₹1.5 crore in exchange for 0.5% of his company, which was valued at ₹300 crores.
All five sharks—Ashneer Grover, Namita Thapar, Peyush Bansal, Aman Gupta, and Vineeta Singh—were impressed and decided to invest.
This exposure greatly increased Snitch’s visibility and led to significant revenue growth and plans for opening new stores across India.
Net Worth
Siddharth Dungarwal’s exact net worth is not publicly available. However, the financial success of Snitch provides insights into his wealth.
In FY23, Snitch reported a revenue of ₹110 crore, with projections to reach ₹250 crore in FY24.
The brand’s gross merchandise value (GMV) is estimated at ₹400 crore, with expectations to grow to ₹600 crore by the end of the current financial year.
Given Snitch’s valuation of approximately ₹300 crore during Siddharth’s Shark Tank pitch, it is clear that his net worth is closely linked to the performance and valuation of his company.
However, without specific details on his personal holdings, an exact net worth figure remains unspecified.
Personal Background
Siddharth holds a Bachelor of Commerce degree and is largely self-taught in fashion design and manufacturing.
His passion for fashion and commitment to innovation have driven his success.
Siddharth’s resilience, particularly in overcoming challenges such as the 2012 fabric setback, highlights his entrepreneurial spirit and adaptability.
Conclusion
Siddharth Dungarwal’s transition from a young retail store owner to the founder of Snitch, one of India’s fastest-growing men’s fashion brands, exemplifies his entrepreneurial vision and adaptability.
His ability to navigate industry challenges, innovate, and respond to market demands has positioned Snitch as a leader in fast fashion.
Siddharth’s journey is a testament to his dedication and skill in reshaping the men’s fashion landscape in India.
