Last updated on 30 January 2024.
Find everything about Mintree’s pitch on Shark Tank India, founder Kanikka Dewanii, and the latest updates about the company.!
Mintree on Shark Tank India
Do you want a pedicure at home? Well, Mintree can help you with that.
Here are the key details about their pitch on Shark Tank:
| Name | Mintree |
| Founder | Kanikka Dewanii |
| Episode | Season 3 Episode 4 |
| Ask | ₹90 Lakhs for 1% Equity |
| Deal | ₹90 Lakhs for 1.5% Equity |
| Sharks | Azhar Iqubal, Peyush Bansal |
| Status | In-business |
Mintree makes skincare and body care products for salon. Most of the items are organic and vegan. Some of them are also sulfate and paraben-free.
The bestseller out of all of them is their Pedicure Kit called ‘Box The Tox Detox’. It includes 8 things to do a manicure or pedicure at home, including scrubbing, mask, bath bomb, massage candle, etc. You can get it from Amazon (*Affiliate Link):
ASIN: B08H8SMLHN
Or buy it by clicking here: https://amzn.to/48Q22Kg
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The pitcher asked for ₹90 lakhs for 1% equity. Till the time of the pitch, products are used by 3,000+ saloons in India. With the good response they got, the plan is to move to Direct-to-Consumer (D2C).
The business was running smoothly but later one of their clients launched their similar products in the market. This turned out to be a major risk for them. Still, there are so many salons to cater to.
In FY 2022-23, Mintree has generated a revenue of ₹9 crores with ₹1 crore in profit. These great numbers were appreciated by all the sharks and they saw an opportunity in it.
But the prices of the products are very premium. That’s why Aman went out. Others were still interesting.
Anupam offered the money for 3% shares with royalty. Namita had the same offer but recommended to not go through D2C. But Peyush and Azhar had something better in mind.
Watch the full pitch here:
Azhar Iqubal and Peyush Bansal closed a deal with Mintree on Shark Tank India. They invested ₹90 lakhs for 1.5% equity.
About Kanikka Dewanii
Kanikka Dewanii is the founder of Mintree USA, based in Nagpur, Maharashtra.
Kanikka has done her master’s in Fashion in Design from the London School of Fashion. After that, she has vast experience in the beauty space with 3 years in L’Oréal as a product manager. Then, she decided to do something for herself.
With an investment of ₹3 crores by her parents, Kanikka founded Mintree in 2016 with her manufacturing facility. In 2021, Kanikka got the FICCI Flo The Game Changer Women Startup Award for her success.
After Shark Tank Updates
For a limited time after the episode aired, they offered up to 35% discount on their website. Kanikka said in a LinkedIn post that she rejoiced with this new deal and saw a spike in their national and international visibility.
By the way, other businesses featured in this episode were Turms Apparel and 80 Wash washing machines.
Finally, know the vision and mission of Mintree here: “Our vision is to innovate and elevate Indian beauty standards by fusing them with path-breaking international beauty trends. Consequently, our mission is to end up on the shelves of every 5th consumer worldwide by providing them with high-standard beauty and skincare products.”
Takeaways
So now you know about Mintree’ pitch on Shark Tank India and its founder Kanikka Dewanii. This looks like a promising business and promising entrepreneur!
And if you don’t know who I am? I am Ranish Chauhan a.k.a. Fulmino Fan, a Fan of the Shark Tank show.