What Happened to Mintree After Shark Tank India?

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What is Mintree?

Mintree makes skin & body care products. These products are mainly made for salons. Mintree makes certified vegan beauty products.

Some of the bestseller products are Brightening Olive Sugar Scrub, Nourishing oud body wash, anti-aging serum, and 100% organic peat face mask.

Currently, there are 1500 ~ 2000 A-type salons and 20,000 ~ 25,000 B-type salons. So, there’s a big market out there.

Who is the Founder of Mintree?

Kanikka Dewanii is the founder of Mintree. She’s from Nagpur. She wants to make Mintree a big D2C brand. She previously worked in Loreal and Reliance.

Equity Split in Mintree

Kanikka Dewanii50%
Kanikka Dewanii Father25%
Kanikka Dewanii Mother25%

Mintree Before Shark Tank India?

Kanikka got the license in 2018 & started Mintree in 2019. More than 3000 salons have used Mintree products.

How much money did she ask for on the pitch?

She came to Shark Tank India seeking ₹90 Lakhs for 1% equity in the business. Which gives the company a valuation of ₹90 Crores.

How much money did she raise for Mintree?

She invested ₹3 Crores of her parent’s money in Mintree. She didn’t take any outside investors.

How to get Mintree?

You can get all the Mintree products on their brand website. When a salon uses a product of Mintree they can charge premium pricing to their customers. For example, the price of a pedicure can go up to ₹1500.

What are the Annual Sales of Mintree?

Fiscal YearAnnual SalesProfit
2018 – 2019₹1 Crore₹2 Lakhs
2019 – 2020₹3 Crores₹28 Lakhs
2020 – 2021₹3.5 Crores₹4.5 Lakhs
2021 – 2022₹5.4 Crores₹28 Lakhs
2022 – 2023₹9 Crores₹1 Crores
2023 – 2024₹17.5 Crores Projected₹2 Crores Projected

Which shark gave Mintree an offer?

Aman Gupta was out. He didn’t want to invest in a business that was only salon-based.

Anupam Mittal was interested in Mintree. He offered ₹90 Lakhs for 3% and 2% royalty until ₹1.35 Crore is recouped.

Vineeta Singh gave the same offer as Anupam Mittal.

Peyush Bansal & Azhar Iqubal gave a combined offer. They offered ₹90 Lakhs for 3% and 1% royalty until ₹1.35 Crore is recouped.

Offer 1Offer 2Offer 3Offer 4
Anupam Mittal – ₹90 Lakhs for 3% & 2% royalty until ₹1.35 Crore is recoupedVineeta Singh – ₹90 Lakhs for 3% & 2% royalty until ₹1.35 Crore is recoupedPeyush Bansal & Azhar Iqubal – ₹90 Lakhs for 3% & 1% royalty until ₹1.35 Crore is recoupedAnupam Mittal & Vineeta Singh – ₹90 Lakhs for 3% & 2% royalty until ₹1.35 Crore is recouped

Kanikka Dewanii gave a counteroffer of ₹90 Lakhs for 1.5%. She didn’t want any royalty.

What deal did Mintree get in Shark Tank India?

Mintree got a deal from Peyush Bansal & Azhar Iqubal in Shark Tank India. The offer was ₹90 Lakhs for 1.5%.

Company Name Mintree
Founder Kanikka Dewanii
Asked Amount ₹90 Lakhs for 1%
Final Deal ₹90 Lakhs for 1.5%
Sharks Peyush Bansal & Azhar Iqubal
Company Net Worth ₹60 Crores
Company Website mintree.us
Company Status In Business

What is the net worth of Mintree?

After the deal in Shark Tank India, the net worth of Mintree is ₹60 Crores.

Is Mintree still in Business?

Yes, Mintree is still in the salon business and trying hard to become a big D2C brand.

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