Mintree Shark Tank India Season 3

What Happened to Mintree After Shark Tank India?

Mintree USA is a body and skin care products brand with the mantra ‘Beauty for a better world’. Their mission is to provide high-standard beauty and skincare products worldwide.

More About Mintree

Mintree has an in-house manufacturing facility with a robust R&D function where they research and develop quality products for the Salon industry. The brand has a distribution channel spread across 5000 doors in 30 top cities in India.

Below are some popular products from Mintree:

  • Body: Scrub, Mask, Hair & Body Wash, Lotion, etc
  • Hair: Shampoo & Conditioner
  • Skin: Serum, Exfoliating, Sunscreen, etc.

Founder of Mintree

Kanikka Dewanii is the founder of Mintree, a body and skin care products brand.

Mintree Shark Tank Pitch and Updates

Kanikka Dewanii appeared on Shark Tank India to raise funds for her brand Mintree. She started her pitch by sharing the issues with traditional salon businesses and a lack of standardization too.

She launched Mintree to provide the right treatment and pampering for salon customers through their high-quality products. As per the founder, their products are vegan, natural, and free from harsh chemicals. Also, they are planning to launch a direct-to-consumer range of their products.

After the initial pitch, Mintree’s founder demanded INR 90 lakhs for 1% equity at a valuation of INR 90 crores.

Below are some major interactions that she had with the Sharks:

  • Vineeta Singh got excited after checking out their products and appreciated the packaging and feel they had.
  • Azhar Iqubal asked about the per-salon revenue that Mintree generates and how much growth can be expected in that.
  • Aman Gupta discussed her acquisition process for salons and some other business processes.
  • Peyush Bansal asked about the profitability and other sales data.
  • Anupam Mittal found the product price on a bit higher side but he was interested in giving an investment offer.

After all the discussions, Kanikka Dewanii received multiple investment offers from Anupam Mittal, Vineeta Singh, Peyush Bansal, and Azhar Iqubal. In the end, Kanikka went with a combined offer from Peyush Bansal and Izhar Iqubal.

Company Name Mintree USA
Founders Kanikka Dewanii
Headquarters Nagpur, Maharashtra
Founded Year 2016
Business Beauty Brand
Profitability Yes
Shark Tank Episode Season 3 – Episode 4
Asked For INR 90 lakhs for 1% equity
Deal INR 90 lakhs for 1.5% equity
Sharks Invested Peyush Baansal and Azhar Iqubal
Valuation Given 60 Crores
Website Click Here

Mintree got a deal of INR 90 Crores for 1.5% equity at a valuation of 60 Crores from Peyush Bansal and Azhar iqubal.

Frequently Asked Questions About Mintree

After their appearance on Shark Tank India Season 3, people tried to find more information about Mintree. So here are some of the frequently asked questions about them.

1. Who Is The Founder of Mintree?

Kanikka Dewanii is the founder of Mintree, a body and skin care products brand.

2. Is Mintree From Shark Tank India profitable?

Yes, Mintree is a profitable beauty brand right from the first year of its business. Last year, they made 1 Crore in profit from sales of 9 crores.

4. What Are The Sales of Mintree After Shark Tank India?

As per the founder, the projected sales of Mintree for the financial year 2023-24 are around 17.5 crores with a profit margin of 12-15%.

4. What happened to Mintree after the Shark Tank?

Mintree was able to secure a deal from Peyush and Azhar from Shark Tank India and will be using the funds to scale the business and launch a D2C product range.

5. What is The Valuation of Mintree?

Mintree raised funding on Shark Tank India at a valuation of 60 crores.