Mintree is a brand that focuses on making skin and body care products. Their motto is Beauty for a better world and they aim to provide high-quality beauty and skincare items globally. They have their manufacturing facility and a strong research and development team that creates top-notch products for the Salon industry. Mintree products are available in 5000 locations across 30 major cities in India, covering a wide range from body scrubs to hair care and skincare items. Kanikka Dewanii is the founder of Mintree. Also, you can enroll in the skincare product formulation course at Alippo.
|₹ 90 lakhs for 1% equity
|₹ 90 lakhs for 1.5% equity
|Azhar Iqbal and Peyush Bansal
All About the Pitch
Kanikka Dewanii appeared on Shark Tank India to seek funding for her brand, Mintree, addressing issues with traditional salons and their lack of consistency. She introduced Mintree as a solution, offering top-notch products for a pampering experience. The products are vegan, natural, and free from harsh chemicals. Additionally, Mintree plans to launch a direct-to-consumer product line.
During the pitch, Kanikka requested INR 90 lakhs for a 1% equity stake, valuing Mintree at INR 90 crores. The Sharks engaged in various discussions:
Shark Vineeta Singh praised Mintree's products, focusing on their packaging and feel. Shark Azhar Iqubal inquired about Mintree's per-salon revenue and potential growth. Aman Gupta explored Mintree's acquisition process for salons and other business operations. Peyush Bansal questioned Kanikka about profitability and sales data and Anupam Mittal, despite finding product prices slightly high, expressed interest in investing.
Ultimately, after receiving offers from Anupam Mittal, Vineeta Singh, Peyush Bansal, and Azhar Iqubal, Kanikka chose a combined offer from Peyush Bansal and Azhar Iqubal of INR 90 Crores for 1.5%
Takeaways from the Pitch
From this pitch, one can learn several skills related to entrepreneurship and business, including:
1. Pitching Skills: Kanikka presented her pitch well. Understanding how to effectively present and communicate your business concept, values, and goals to potential investors.
2. Product Knowledge: Being well-versed in the details of your products like Kanikka helps to set the right tone. Knowing about product features, benefits, and market positioning.
3. Market Awareness: Kanikka recognized and addressed issues within the target market, and proposed innovative solutions essential.
4. Financial Literacy: Demonstrating a clear understanding of financial aspects, including valuation, revenue, profitability, and equity stakes is crucial. Kanikka could negotiate with sharks because of this skill.
5. Decision-Making: kanikka evaluated multiple offers and making a strategic decision based on the best fit for the business proved to be beneficial for the founder and sharks.
7. Adaptability: Kanikka responded to feedback and concerns from investors during the pitch, showing flexibility in adjusting the business model if necessary.
These skills collectively contribute to the success of the entrepreneur in securing funding and advancing the business.