Shark Tank Manetain
In this episode of Shark Tank India Manetain, a curly hair specialist brand. Will the founder get a deal from the sharks? To know about the deal read till the end.
| Company name | Manetain |
| Founders | Hinshra Manadad Habeeb and Yuba Mohammed Romin Aga |
| Ask | ₹75 lakhs for 2.5%equity |
Manetain Founder
Hinshra Manadad Habeeb is 25 years old and from Kochi, Kerala. She is from a business background. She has completed her B.Com and due to some personal loss, she is engaged a bit with her family business along with her own business.
Yuba Mohammed Romin Aga is from Mumbai. She is a dentist.
From a book, they got ideas on how to maintain the curls of the hair.
They have met each other through an online community called curly girl community.
Online operations are handled by Hinshara and manufacturing operations are handled by Yuba.
About the company Manetain
It is very difficult to maintain curly hair. About 60% of women have curly, coiled and messy hair. The reasons can be one doesn’t know her hair type or doesn’t have an idea how to manage their hair. It was very expensive to import hair products from the UK and US. So in order to make such international products in India they have started Manetain which deals with the products that work with hair-related products. Manetain is a brand that is a one-stop solution for hair care and hair accessories for all types of hair. Their products are available on their own website and marketplaces. They started their journey in the year 2018 and they have now 20000 plus people in their community.
In India the curly hair industry is around 250-300 crore rupees.
Ask by the Owners Manetain
Pitchers asked 75 lakhs for 2.5% equity in the company.
Manetain Sales And Revenue
Last month the sales were 12 lakhs rupees. In FY 21-22, the sales were 1 crore rupees. Their average monthly sales is 10 lakhs rupees. The COGS costs around 3 lakhs rupees, Courier costs 70000 rupees, Razor Pay and Shopify costs 40000 rupees, agencies cost around 1.6 lakh rupees, Salaries cost 40000 rupees, and marketing costs 3.9 lakh rupees. Gross profit is 70 to 75 percent for all hair products and for some accessories it is up to 75%. The average cost of their products is 1200 to 1600 rupees. The sales split is 60% from its own website, 30% from marketplaces, and 10% from offline retail.
Offers and counter offers
Aman offers 75 lakhs rupees for 10% equity at a valuation of 7.5 cr. rupees.
Pitchers counteroffer 75 lakhs rupees for 7.5% equity.
Manetain Final deal
The deal was finalized with Aman for 75 lakhs rupees in exchange of 10% equity at a valuation of 7.5 crore rupees.