- Founder: Sahil Jain and Arunima Singhal Jain
- Business: Restoration
- Ask: ₹90 Lakhs for 3% Equity
- Valuation/ Networth: ₹30 Crores
- Funding: ₹90 Lakhs for 6.5% Equity
- Shark: Anupam Mittal
- Pitch: Youtube
- Episode: Season 4 Episode 10
Sneakinn Shark Tank India Pitch:
Sneakinn provides cleaning and restoration services for luxury goods. The brand appeared on shark Tank India Season 4. The founders shared that they increase the lifespan of luxury products. The founders sought an investment of ₹90 Lakhs in exchange for 3% equity in their company valuing the business at ₹30 Crores.
Sneakinn had over 20,000 customers by the time of its pitch. The brand is accessible through its three retail locations, one centralized workshop and pan-India courier services. The founders shared that they have contracts with Tanneries to replace damaged leather components in Luxury products.
Sneakinn’s Financials & Revenue during Shark Tank India:
Sneakinn has priced their bag colouring services from ₹10,000 to ₹12,000. The brand charges ₹900+GST for their cleaning services.
Sneakinn makes 40% of their total revenue from cleaning services. Colour restoration services brings in 20% of their net revenue and 26% comes from their repair jobs. 4% of their revenue comes from protection services & 7% of revenue is derived from delivery. Only 3% of their net revenue comes from their products.
Sneakinn has a gross margin of 43%. 15% of their revenue comes from walk-in customers, 80% comes from Pickups and the rest is from couriers. 50% of the mumbai store revenue comes from the walk-in customers and the founders added that it is increasing visibility and credibility of their brand.
The brand was started in 2020. They made a revenue of ₹19.8 Lakhs in their first year followed by ₹1.5 Crores in FY21-22. FY22-23 was closed with a revenue of ₹3.8 Crores. In the Last financial year, Sneakinn made a revenue of ₹5.9 Crores with 7.3% EBITDA. The company is projecting a revenue of ₹7.3 Crores for FY24-25 with an EBITA of 15.5%.
Sneakinn Shark Tank India Negotiations & Funding:
Namita went out due to a small TAM for this product. Kunal went out for the same reason as Namita. Ritesh offered ₹45 Lakhs in exchange for 5% equity in the company and the rest as debt for 9% interest for 3 years. He valued the brand at ₹9 Crores.
Vineeta and Anupam joined hands and offered ₹90 Lakhs in exchange for 10% equity. They would also take 1% royalties until they recoup ₹90 lakhs back. The founders take a moment to think and shared that they would not take a deal with royalties attached to it. They countered with ₹90 Lakhs in exchange for 5% equity.
Anupam changed his offer to a solo offer of ₹90 lakhs for 7% equity valuing the company at ₹12.86 Crores. Ritesh offered ₹45 lakhs for 3% equity and the rest as debt at 10% interest for 3 years. The founders asked Anupam to match Ritesh’s valuation after hearing that, Ritesh went out. Anupam came down to 6.5% which the founders accepted and they shook hands on ₹13.85 Crores.
Who are the founders of Sneakinn?
Sahil Jain and Arunima Singhal Jain founded Sneakinn. They are from Gurugram. Sahil graduated from the University of Manchester in business studies.
How is Sneakinn doing after Shark Tank India?
Our research in Sneakinn revealed that their deal with Anupam Mittal was successfully finalized and closed after the show. Their appearance on the show also had a very positive impact on the brand as it gave them nationwide visibility. Their announcement reel has over 4 lakh views on Instagram. You can check out their products by clicking the Amazon button below!
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In March 2025, The brand announced that it would open its first store in Gurugram on March 9, 2025. This will be the third city they are expanding in after Delhi and Mumbai.
Do you know which Shark Tank India companies are already out of business after their appearance on the Show? Click the button below to find out!