In recent times, Shark Tank India has been making a buzz in the Indian business community. It has new startups coming up with innovative ideas and solving problems worth millions. It has given a platform to many new emerging brands with funds, support and expertise from sharks.
Snitch, which became extremely popular after the shark tank show, made the business scale 10 times larger than before. Initially, Siddharth Dungarwal was passionate about business and helped his father in the jewelry business. While working, he found an opportunity in clothing and fashion. He asked his father and started a clothing business by supplying to Mumbai markets. Eventually, due to retail and distribution problems, he decided to start his own supply and manufacturing from scratch.
The Journey
Initially it was a tough task, but his vision and determination made him take high risks to grow big. In the financial year 2021 they earned about 11 crore, 2022 FY 44 crore, and 2023 FY 110 crores. These are the authentic numbers which made snitch grow into a big business within just 1 year. The day arrived when Snitch got an opportunity to present themselves in Shark Tank India. The marketing worth crores happened in one episode. The famous investors and sharks have invested 1.5 crore with 1.5% equity in Snitch. After reaching such milestones, Snitch even got more funds from various investors. Today it has a value worth 900 crore within just 3 years.
The Marketing Strategies.
* Snitch targeted 18 to 30-year-old age groups and made authentic and trending styles which are worth fashion.
* The prices which they have allocated for products are affordable and are not higher than H&M and not below Max, this pricing strategy made them consumer-friendly.
* Invested most of the time in Digital Marketing, SEO, and Performance Marketing, by showing casing videos of shark tank pitch and products.
* Created Fomo with advertisement and sale offers, which made customers excited and thrilled.
* Proper feedback mechanism on products, employees, business, and quality.
* Influencers from local, state, and national have been hired for promoting the brand.
* Website and mobile applications were prepared with premium quality, and they have gained almost 2 million customers following frequent updates.
