If you have curly hair, then you know how big the struggle is to manage curly hair. The haircare products on the market right now, are mostly focused on straight hair. So, finding something specially for curly hair is a challenge in itself.
When you’re not able to maintain your curly hair, it becomes a mess. Often, people try to straighten their hair. But doing that is expensive, and that’s definitely not a permanent solution. You can import foreign haircare products but that too is expensive.
What is Manetain?
To tackle this problem, Manetain was formed. This is a brand that offers haircare products & different haircare accessories. Manetain is available on their website and some other marketplaces. 60% of sales are coming from the brand website, 30% from marketplaces, and 10% from different retail stores.
Who is the Founder of Manetain?
Hinshra Manadath Habeeb & Yuba Mohammaed Romin Aga are the founders of Manetain. Hinshra is from Kerala. Yuba is from Mumbai. They launched Manetain in 2018. Yuba is a dentist & Hinshra is an audit assistant.
They met in a curly girl community. They wanted to help the curly girl community and wanted to make a product that would help everyone. The entire business is online. Hinshra takes care of everything online. Yuba takes care of manufacturing & dispatch.
Previously they didn’t know anything about managing curly hair. They researched this topic. They found a book by Lorraine Massey. The book was all about managing curly hair. They learned some process. They learned about some ingredients that should be present in the haircare product.
How much money did they ask for Manetain?
They came to Shark Tank India seeking ₹75 Lakhs for 2.5% equity in their company. Which gives the company a valuation of ₹30 Crores.
Anyone can use Manetain haircare products. Whether they have straight, curly, or wavy hair, these products are great for everyone.
The Indian market size for curly hair ranges somewhere between ₹250 ~ ₹300 Crores. The industry is seeing a 6% growth every year. The entire market for hair products is ₹15,000 Crores.
What are the Annual Sales of Manetain?
|2021 – 2022
The monthly sale is 12 Lakhs.
Unit Economics of Manetain
|Razorpay & Shopify
Which shark gave Manetain an offer?
Vineeta Singh was out because she thought the price of the product was too much. She thought their execution plan was weak and they could’ve done better in 4 years.
Namita Thapar was out because it was too early for her to invest.
Anupam Mittal was out because he felt a marketing instinct missing in the brand.
Amit Jain thought the packaging was not up to the mark. No products specified anything about curly hair. Amit Jain was out.
Aman Gupta gave a conditional offer. The condition is the founders have to take a CMO who will look after all the marketing of the brand. He offered them ₹75 Lakhs for 10% equity. Which gives the company a valuation of ₹7.5 Crores.
They gave a counteroffer of ₹75 Lakhs for 7.5%.
Aman Gupta didn’t agree to the counteroffer. The deal was closed on ₹75 Lakhs for 7.5%.
|Hinshra Manadath Habeeb & Yuba Mohammaed Romin Aga
|₹75 Lakhs for 2.5%
|₹75 Lakhs for 10%
|Company Net Worth