Premium sneaker and bag care company Sneakinn provides luxury footwear and accessory specific cleaning, maintenance, and restoration. Established in Gurugram, India, the company seeks to offer premium care for sneakers and bags so they remain looking brand new. Sneaker heads and luxury accessory owners who wish to keep their products looking great and lasting for years will find Sneakinn’s offerings appealing.
Company Name: SNEAKINN
Founder: Arunima Jain and Sahil Jain
Product: Premium Bag and Shoe Care Brand
Highlights:
1. Offers luxury sneakers and bags excellent cleaning, care, and restoration with a service focus.
2. Target market serves luxury accessory owners and sneaker heads.
3. Location: Based in Indian city of Gurugram.
4. Reported ₹5.9 crore in FY 2024; expected revenue for FY 2025 is ₹7.3 crore.
5. High-end Care: Markets itself as a luxury category specialist.
Pitch Details
Ask: ₹90 Lakhs for 3% Equity (Valuation: ₹30 crores).
Deal: After negotiations Anupam Mittal finished the deal at ₹90 Lakhs for 6.5% equity.
Investors: The investment came from Anupam Mittal
Conclusion:
Targeting the expanding market of luxury fashion and footwear aficioners, sneakinn has effectively positioned itself as a premium service provider for sneaker and bag care. Its sophisticated cleaning and restoration techniques help it to satisfy a growing but limited clientele. The company’s performance on Shark Tank India Season 4 attracted notable funding, which will probably support its expansion going forward. Especially with its outstanding income forecasts, Sneakinn’s capacity to scale highlights the growing demand for premium products sector quality treatment. Additionally, giving legitimacy and confidence to its ongoing success is the support of investor Anupam Mittal.
Key Takeaways from the Episode:
1. Heritage Restoration: Focus on preserving cultural heritage sites, blending sustainability with tourism.
2. Luxury Bag Restoration: Tap into the niche market of luxury product maintenance and sustainable fashion.
3. Empowering Differently-Abled Entrepreneurs: Create opportunities for inclusivity in entrepreneurship.
4. Intense Negotiations: Expect fierce deal-making and negotiation styles from investors.
5. Diverse Business Models: Innovation across industries, from sustainable products to tech solutions, offers valuable insights for emerging trends.
