Manetain Shark Tank India Pitch:
Maintain is a brand which focuses on making haircare products for people with Curly, Wavy and Oily Hair. They also have hair accessories and have expanded into all hair types. Their products can be purchased from marketplaces and their own website. Manetain was started in 2018 and have 22,000 community members. They sought an investment of ₹75 Lakhs for 2.5% Equity. They use the clean ingredents to make their products.
The Indian market for Curly hair is around ₹250-300 Crores but overall hair products market in India is ₹15000 Crores. Their net sales for Last month were at ₹12 Lakhs and They closed FY21-22 at ₹1 Crore. The Founders shared that out of their average monthly sales of ₹10 lakhs, Their cost of goods is at ₹3 lakhs. They also spent another ₹70,000 on Courier and ₹40,000 on Razorpay and Shopify. They are also paying ₹1.6 lakhs to agencies for performance marketing and managing their socials. Add another ₹40,000 in salaries for the staff and they put the rest back in Brand Marketing. Their gross profit is between 60-70% and their Customer Acquisition cost is at ₹200.
Manetain Shark Tank India Negotiations & Funding:
Vineeta was the first Shark to go out of the deal because she thought the price point of the products was very high and didn’t have a market in India. Namita also had the same concerns and thought they were too early for the investment. Anupam goes out because he didn’t see marketing instinct in the entrepreneurs. Amit did not like the Branding and didn’t see the value proposition. He also thought that founders commitment was lacking in this venture as well. Given these reasons he goes out of the deal.
Aman didn’t agree with Amit’s sentiments. He liked the product and entrepreneurs. He gives the conditional offer that they would need to bring a CMO to run their marketing. Given that condition, He offers ₹75 lakhs for 10% of the company. The Company counters at 7.5% which Aman refused. The founders accepted Aman’s offer of ₹75 lakh for 10% of the company and they shook hands on that.
Who is the founder of Manetain?
Hinshra Manadath Habeeb & Yuba Mohammed Romin Aga founded Manetain. Hinshra is 25 years old from Kerala and Yuba is 36 years old from Mumbai. Founders met through the curly girl community and became very good friends. Yuba is a dentist by profession and Hinshra is from a Business background.
How is Manetain Doing After Shark Tank India?
Our research in the company revealed that their Shark Tank India Deal with Aman was Closed after the show aired. As of December 2023, Manetain is still in business and thriving. They have over 27 thousand followers on Instagram and are growing rapidly as a brand. While their financials are not yet available, we will update this info as soon as more information comes to light.
Source: Instagram @manetainstore
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