Snitch is one of the primary actors that has benefited from this shifting landscape, and its revenue has risen 3.4X across the last two fiscal years, with bottom-line losses remaining relatively low. Its top-line figures rose by a significant margin as it aggressively built its retail footprint and channels, as per its annual financial statements available from the Registrar of Companies.

Financial performance and retail expansion

Snitch’s revenue from operations increased by 67.7% YoY to ₹835 crore in FY26 from ₹498 crore in FY25. Snitch was established in 2020 by Siddharth Dungarwal with the goal of offering curated men’s fashion and accessories that emphasize style and personal expression. 

The company’s only operating income comes from the apparel and accessories segment. The company also earned ₹14 crore from other income sources, mainly interest income from bank deposits and long-term investments, apart from its core operational income for FY26. This increased the company’s total turnover from ₹795 crore in the previous year.

Snitch has diversified its sales channels from its initial digital platform to broaden market reach and improve fulfillment. The brand has debuted in the fast commerce space to provide the fastest delivery services to consumers. 

Snitch is moving quickly to develop its physical retail locations throughout the country. It currently has 142 physical outlets in India, and its official website details that the company has spread its presence well across the major metros and premier Tier II cities in India.

Expenditure breakdown and profitability metrics

The direct-to-consumer fashion brand grew its business and, therefore, its cost base over time. Apparel and accessories were the largest single expenditure category for Snitch, at around 51% of total operating expenditure. Similarly, as businesses grew in scale, procurement expenses rose to ₹444 crore in FY26 from ₹231 crore in FY25, a 92.2% increase. 

During the fiscal year, the company incurred total expenditure of ₹ 108 crore on advertising and marketing activities to achieve brand awareness. Employee benefit expenses also rose to ₹81 crore for FY26. 

Other operational cost elements comprised marketplace charges, delivery logistics, general overheads, and rental fees. For the company, total expenditure increased from ₹508 crore in FY25 to ₹873 crore in FY26, a rise of 71.9%.

Snitch recorded a net loss of ₹27 crore in FY26 as expenses grew marginally higher than revenue. In unit economics, the fashion startup’s revenue was the equivalent of ₹1, and its expenses were ₹1.05 over a fiscal year. Its Return on Capital Employed was reported as -8.6% and its EBITDA margin was reported as -3%. 

Snitch has raised more than $53 million in total funding from a capital standpoint. This financing activity saw a $40 million Series B round led by 360 ONE Asset in June 2025, which helped the company cover the costs of its inventory growth and retail deployments.

Conclusion

Snitch’s topline growth was robust, rising by 67.7% to ₹835 crore in FY26, particularly through men’s fast-fashion products. Increased procurement costs, marketing investments, and offline store expansion widened their net loss by ₹27 crore, but their unit economics are still relatively controlled. With $53 million in cumulative venture funding, 142 retail stores, and fresh quick commerce channels, Snitch is dubbed as set for market.