Season 2's 1st All 5 Shark Deal Goes To Snitch, Brand's Founder Is Happy For Earning Credibility

Shark Tank India 2 is unfolding ‘what inspirational ideas’ with every passing episode. Recently, the show’s one of the episodes saw this season’s ‘First All-Five Shark Deal’ with a fashion brand. Dwelling in a conversation with us exclusively, Snitch Founder Siddharth Dungarwal shared the bits and bytes of his experience on the buzzing show.

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Interestingly, this men's apparel brand was Bootstrapped before the show and went on to seize a deal worth INR 15 Million for 1.5% Equity.

Talking about his experience Sidharth tells us, ‘I am really fortunate to have been on the show and the overall experience was incredible. The response which I am getting over my social media handles is just overwhelming.’

‘We are one of the only D to C startups that have achieved 100 crores within two years of being bootstrapped and that itself is like a huge validation for us. And now grabbing an all-five shark deal helped our brand earn a lot of credibilities. I look forward to strengthening Snitch with this fruitful association.’

We asked Sidharth how post-Shark Tank his brand is planning to transform, to which he said, ‘Till now we have been a website-focused brand. Our 90% of sales were happening through the website and app. So now we are planning to go aggressive around marketplaces.’

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‘It has been incredible in terms of the plans we have. We are coming with 10-15 offline stores across India. Plus adding on a lot of categories, especially in the plus size section. We would further like to enter the international market very soon.’

He also shared what changes since the onboarding of all sharks have affected his brand. Dungarwal said, ‘From the time the shark tank episode was shot back in September, we have grown at least 30% from there till last month. We were at 9 crores when the episode was shot now we are doing 11 crores in and around.’

Sidharth addressed the responsibility of taking the brand on national television. He said, ‘I am a person who takes one day at a time. When we started our goal was 10 models a day and now we stand at 100 crores gross. It’s consistency that automatically serves as our responsibility.’

In the Shark Tank India 2 episode, Siddharth revealed that he didn’t have any degrees from big universities yet he managed to do what he always wanted to.

He told us, ‘Degrees really don’t matter but a basic education does. Parallelly one should create smaller targets for themselves and try to achieve them in the ways one wants to. I believe that what matters the most is that you have the skill to grasp and learn from others. I have not formally done a lot of formal education or read a lot of books but what I have done is follow a lot of people who mean a lot to me.’

Siddharth also talked about the entire process of reaching the tank from the point of application on the show.

‘I think our brand being on shark tank was a fantastic and seamless journey. From the application process to being in the tank, the experience was incredible. We didn’t have to waste our time anywhere as everything was smoothly organized. It was all fabulous and I’m sure for a lot of people who applied on the show.’

We enquired Siddharth about the post-show conversation he had with the sharks, he shared anecdotes of interactions with Anupam and Aman.

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The brand founder started by saying, ‘I have conversations with at least one of them every day. They are always there even over a call or WhatsApp. That itself shows the kind of value they bring in. I would mention that we received a lot of credibilities after sharks onboarded us.’

‘For example, we were looking for offline store spaces and a lot of malls were rejecting us. But one call from Anupam eased the whole procedure. Then the mall started calling us. With Aman, I have always had casual conversations. He keeps checking on numbers and margins. He has been there and done that so his advice really matters.’

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Sidharth cleared the air that more than the amount he earned on the show, there are by-products that matter more than everything else.

‘See, to be honest, 1.5 crores is not such a huge amount that we make things go upside down. It is more towards the value that they brought not the money and valuation. For us, we’ll stick to the plans that we made. Plans to be available everywhere as per consumer graph and continuing to launch a lot of new products every day.’

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