Latest news with #Snitch
West Australian
20 hours ago
- Politics
- West Australian
The Snitch: What losing Tasmania as 19th AFL club could mean for Fremantle Dockers
The Snitch is a proud 'yes' man. I only ever vote yes in referendums despite our country's historical lean to a no. It's just my positive nature. Ask Mrs Snitch. I always find it hard to say 'no' to anything my dear lady requests, whether it was the peculiar mix of Penfolds Grange and Devils on Horseback at our wedding reception at El Caballo Blanco, or her insistence we ride to the chapel in a racing green Dymaxion replica. So I have been flummoxed with with all of this pushback from Tasmanians on having an AFL team. It's all so negative and small-town minded. The thought of missing out on a stadium, and therefore a team, because of political squabbling and local myopia, has brought Tasmanian's finest footy players to tears this week. Why wouldn't you want an AFL team in your State? Yes, Tassie's greatest tourism asset lies in its diverse landscape and rich history, from Cradle Mountain to Port Arthur, but this would surely ramp it up a notch. If I am honest, only one good thing will come from a team not landing in Van Diemen's Land and that would be the likelihood Alex Pearce would remain at Fremantle for the duration of his career. Alex has Palawa heritage and grew up in Ulverstone on Tassie's north coast. He'll be 31 by Tasmania's intended AFL debut in 2028, but would be just the type of experienced and balanced footballer and all-round good chap the Devils would be looking for to lead their inaugural team. The transformation of the ugly Macquarie Point Sewage Treatment Plant into a boutique stadium worth a few Tassie truffles short of $1 billion has poured new salt on to old north v south wounds in the State. On Thursday, Tasmania's Liberal Party Premier Jeremy Rockliff lost a vote of no confidence over a looming $1 billion budget deficit and will now call a snap election. The deficit and now the election mean the AFL team is in doubt given the league has made the new roofed stadium a condition of a 19th licence. Media giant Eddie McGuire summed it up best when he said: 'What Tasmania doesn't need is every week to have an advertisement that they are a second-rate state. I think Tasmania deserves to be finally seen for the great state that it is.' He's right. If they want to remain blissfully second rate, then we have to let them. It's their call. They are busy subversives Tasmanians, just like West Aussies, after all. Remember, Tassie is an actual island. We are like one given our distance from the east. Which brings me to my favourite Tassie story and a perfect segue out of this misery. Back in 1982, the Commonwealth Games opened in Brisbane to great fanfare. Matilda the giant kangaroo was the centrepiece as she circled the QEII Stadium, winked and opened her pouch to enable hundreds of kids to pour out and form a human map of Australia. The Snitch was one of those kids – with my aptly named best mate Cliff – positioned to form the Nullarbor Plain. It was all going splendidly until we realised there was a gaping error. We'd left Tasmania off the human map. I recall talking to the one kid who was solely responsible for that role. He mumbled something about eating too many apples and sprinted to the nearest toilet and, you guessed it, missed the cut when we boarded Matilda. The outrage was loud from Tasmanians. It was another slap in the face from the mainland. Realising the gravity of his absence when he emerged from the lav to find we had all left without him, 'Tassie' leapt the fence in a futile effort to address the geographical gaffe, but sadly, we'd already broken away. A bit like Tassie right now. Say no to the AFL and you deserve to be permanently cut adrift, leaving you to float south where you will somewhat ironically bump into Macquarie Island before clattering into the frozen pole of Antarctica.
Time of India
a day ago
- Business
- Time of India
Rapid Delivery's in Fashion at Ecomm, New-age Apparel Cos
HighlightsNew direct-to-consumer brand Snitch has launched a pilot project for its quick fashion delivery service in Bengaluru, joining other brands like Newme, Slikk, and ecommerce platforms such as Myntra, Ajio, and Nykaa in exploring ultra-fast delivery for fashion and apparel. Slikk, which offers delivery within 60 minutes, recently raised $10 million in funding led by Nexus Venture Partners, while Snitch has secured $40 million from 360 One Asset to expand its offline retail presence and enter the quick commerce segment. Industry experts caution that the rush towards rapid fashion delivery may be an overhyped extension of the quick commerce trend, noting that the supply chain for fashion is significantly more complex than that of grocery delivery. New-age brands like Newme, Slikk and Blipp, as well as ecommerce platforms such as Myntra, Ajio and Nykaa are all exploring ultra-fast delivery for fashion and apparel. The latest to join the race is Bengaluru-based D2C brand Snitch. Its founder Siddharth Dungarwal told ET that the company has launched a pilot project for its own quick fashion delivery service in Bengaluru last week. Seeing the rush, venture capitalists are betting on the segment. Slikk, which promises delivery within 60 minutes, recently raised $10 million (about Rs 85 crore) in a round led by Nexus Venture Partners. Snitch has raised as much as $40 million from 360 One Asset, with the proceeds to be used for expanding its offline retail presence to more than 100 stores by the end of 2025 and entering quick commerce. Some industry insiders believe this may be another overhyped extension of the quick commerce narrative. The model is new and comes with its own set of challenges. The push towards rapid delivery began with quick commerce platforms like Zepto, Swiggy Instamart and Blinkit expanding the categories of products they deliver. These platforms, which were initially focusing on grocery delivery, partnered with brands like Jockey, Manyavar, Puma and Adidas to offer apparel and accessories, although limited to essentials such as innerwear, socks, gym wear, basic tees and track pants. This opened up a gap for fashion-first players to offer broader selections with quick fulfilment. "Fashion is an experiential category. The supply chain required for fashion and lifestyle is far more complex than grocery," said Akshay Gulati, cofounder and chief executive of Slikk.
Time of India
a day ago
- Business
- Time of India
Rapid fashion delivery gathers pace, but long-term viability in question
New-age brands like Newme , Slikk and Blipp, as well as ecommerce platforms such as Myntra, Ajio and Nykaa are all exploring ultra-fast delivery for fashion and apparel. The latest to join the race is Bengaluru-based D2C brand Snitch. Its founder Siddharth Dungarwal told ET that the company has launched a pilot project for its own quick fashion delivery service in Bengaluru last week. Seeing the rush, venture capitalists are betting on the segment. Slikk, which promises delivery within 60 minutes, recently raised $10 million (about Rs 85 crore) in a round led by Nexus Venture Partners. Snitch has raised as much as $40 million from 360 One Asset, with the proceeds to be used for expanding its offline retail presence to more than 100 stores by the end of 2025 and entering quick commerce . Some industry insiders believe this may be another overhyped extension of the quick commerce narrative. The model is new and comes with its own set of challenges. The push towards rapid delivery began with quick commerce platforms like Zepto, Swiggy Instamart and Blinkit expanding the categories of products they deliver. These platforms, which were initially focusing on grocery delivery, partnered with brands like Jockey, Manyavar, Puma and Adidas to offer apparel and accessories, although limited to essentials such as innerwear, socks, gym wear, basic tees and track pants. This opened up a gap for fashion-first players to offer broader selections with quick fulfilment. 'Fashion is an experiential category. The supply chain required for fashion and lifestyle is far more complex than grocery,' said Akshay Gulati, cofounder and chief executive of Slikk. 'I'm not sure how a grocery-first platform can scale and solve for this category in depth.' Predicting demand in real time Keeping up with ever-changing fashion preferences is another major hurdle. Brands say accurately forecasting demand — sometimes before customers themselves know what they want — is critical. Many startups are leaning on proprietary AI models and data science teams to stay ahead. These tools help analyse social media chatter, search trends and buying patterns to identify what is likely to trend next. Newme, for instance, has built a dedicated data science team that uses these insights to drive design and inventory decisions, cofounder Sumit Jasoria told ET. Cautionary signs Despite the buzz, challenges persist. One of them is customer behaviour. While there's early interest in fast delivery, shoppers tend to play it safe. Dungarwal said although customers initially showed enthusiasm when Snitch joined platforms like Myntra's M-Now, Slikk and Knot, many reverted to buying only wardrobe basics such as black t-shirts or shirts via these services. 'We've done multiple polls with consumers. Most of them said they don't buy clothes last-minute unless they have a sudden plan or urgent need,' he said. Another issue is forecasting fashion demand at a hyperlocal level. 'If a brand misjudges demand at the pin code level, it will be stuck with unsold inventory,' said a Bengaluru-based industry expert. 'Liquidating it will mean additional cost.' Returns are another pain point. Sizing, fit and comfort issues lead to high return rates in fashion, and rapid delivery doesn't solve for that. 'These platforms are burning money to process returns, which can go as high as 35-40%,' the expert added. The rapid fashion model is still in its early days. While there's excitement around it, the real test will be how brands manage inventory, reduce returns and drive consistent demand without compromising margins, say industry experts.
Time of India
2 days ago
- Business
- Time of India
Quick fashion delivery gathers pace, but road ahead seems challenging
New-age brands like Newme , Slikk and Blipp, as well as ecommerce platforms such as Myntra, Ajio and Nykaa are all exploring ultra-fast delivery for fashion and apparel. The latest to join the race is Bengaluru-based D2C brand Snitch. Its founder Siddharth Dungarwal told ET that the company has launched a pilot project for its own quick fashion delivery service in Bengaluru last week. Seeing the rush, venture capitalists are betting on the segment. Slikk, which promises delivery within 60 minutes, recently raised $10 million (about Rs 85 crore) in a round led by Nexus Venture Partners. Snitch has raised as much as $40 million from 360 One Asset, with the proceeds to be used for expanding its offline retail presence to more than 100 stores by the end of 2025 and entering quick commerce . Some industry insiders believe this may be another overhyped extension of the quick commerce narrative. The model is new and comes with its own set of challenges. The push towards rapid delivery began with quick commerce platforms like Zepto, Swiggy Instamart and Blinkit expanding the categories of products they deliver. These platforms, which were initially focusing on grocery delivery, partnered with brands like Jockey, Manyavar, Puma and Adidas to offer apparel and accessories, although limited to essentials such as innerwear, socks, gym wear, basic tees and track pants. This opened up a gap for fashion-first players to offer broader selections with quick fulfilment. 'Fashion is an experiential category. The supply chain required for fashion and lifestyle is far more complex than grocery,' said Akshay Gulati, cofounder and chief executive of Slikk. 'I'm not sure how a grocery-first platform can scale and solve for this category in depth.' Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Predicting demand in real time Keeping up with ever-changing fashion preferences is another major hurdle. Brands say accurately forecasting demand — sometimes before customers themselves know what they want — is critical. Many startups are leaning on proprietary AI models and data science teams to stay ahead. These tools help analyse social media chatter, search trends and buying patterns to identify what is likely to trend next. Newme, for instance, has built a dedicated data science team that uses these insights to drive design and inventory decisions, cofounder Sumit Jasoria told ET. Cautionary signs Despite the buzz, challenges persist. One of them is customer behaviour. While there's early interest in fast delivery, shoppers tend to play it safe. Dungarwal said although customers initially showed enthusiasm when Snitch joined platforms like Myntra's M-Now, Slikk and Knot, many reverted to buying only wardrobe basics such as black t-shirts or shirts via these services. 'We've done multiple polls with consumers. Most of them said they don't buy clothes last-minute unless they have a sudden plan or urgent need,' he said. Another issue is forecasting fashion demand at a hyperlocal level. 'If a brand misjudges demand at the pin code level, it will be stuck with unsold inventory,' said a Bengaluru-based industry expert. 'Liquidating it will mean additional cost.' Returns are another pain point. Sizing, fit and comfort issues lead to high return rates in fashion, and rapid delivery doesn't solve for that. 'These platforms are burning money to process returns, which can go as high as 35-40%,' the expert added. The rapid fashion model is still in its early days. While there's excitement around it, the real test will be how brands manage inventory, reduce returns and drive consistent demand without compromising margins, say industry experts.
Time of India
4 days ago
- Business
- Time of India
Menswear fashion brand Snitch raises up to $40 million in round led by 360 One Asset
Existing investors, Singapore-based VC firm SWC Global, early-stage VC firm IvyCap Ventures, Ravi Modi Family Office (founders of Manyavar) and other angel investors participated. The funds will help scale offline retail stores to over 100 by the end of 2025, enter quick commerce, launch new product categories across apparel and lifestyle and pilot global markets. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Omnichannel menswear fashion brand Snitch has raised up to $40 million in a funding round led by 360 One Asset (formerly IIFL Wealth & Asset Management).The round also saw participation from existing investors Singapore-based venture capital firm SWC Global, early-stage venture capital firm IvyCap Ventures, along with Ravi Modi Family Office (founders of Manyavar) and other angel funds will be used to scale offline retail stores to over 100 by the end of 2025, enter quick commerce, launch new product categories across apparel and lifestyle and pilot international in 2020, Snitch operates in the fast fashion segment, where large companies such as H&M and Zudio also operate. Snitch, which sells a range of menswear, including shirts, T-shirts, jeans, jackets, sweaters, hoodies and accessories, currently operates around 59 physical stores across India.'We closed FY25 at over Rs 500 crore in net sales, with a strong omnichannel footprint and consistent growth… Our goal is to scale to over Rs 900 crore,' founder Siddharth Dungarwal told offline retail contributes to 50% of its revenue, followed by its website and app, which contribute 35%, with the remaining coming from FY24, the brand had reported revenue of Rs 243 crore, as per Tracxn. It is yet to file financial statements for 2024-25 with the Registrar of Companies (RoC).The Bengaluru-based company last raised funding in December 2023, when it got an infusion of Rs 110 crore in a round led by SWC Global and IvyCap on the investment, Chetan Naik, senior fund manager and strategy head - technology, 360 One Asset, said, 'Snitch is one of the fastest-growing, profitable, scaled D2C brands in India . It has built a unique playbook in Indian fashion, combining trend agility, digital-first execution, and omnichannel reach.''Our reinvestment in Snitch further confirms our conviction in its strong execution ability, capital-efficient growth, and sharp positioning in the men's fashion space,' Vikram Gupta, founder and managing partner, IvyCap Ventures.
