Beauty
Manetain
SEASON 2 : EPISODE 25
BRAND
Manetain
COMPANY NAME
Manetain Store Private Limited
FOUNDERS
Hinshra Manadath Habeeb, Yuba Mohammed Romin Aga
ORIGNAL ASK
75 lakhs for 2.5% equity at the valuation of Rs. 30 crores.
DEAL
75 lakhs for 10% equity at valuation of 7.5 crores.
Manetain is one-stop solution for hair products & hair accessories. It’s a brand that started with a goal to encourage people to celebrate the curls that are naturally occurring on their hair.
All of their products are made with all-natural ingredients that are not only kind to the hair but also very effective. Manetain provides everything you need to take care of your curly hair, whether you’re searching for a moisturising shampoo and conditioner, a bonnet to keep your curls in place while you sleep, or a brush that can untangle your curls without causing harm.
Their product range includes Shampoos, Conditioner, Bonnets, Scrunchies & Headbands, Pillowcases & Robes, Heat Caps, etc. Their hair care products can be used by all hair types like straight, wavy, curly, etc.
The products are available on their own website & online marketplaces. All of the products are sulphate, silicon & paraben free.
Founders & their story
- Hinshra Manadath Habeeb
- Yuba Mohammed Romin Aga
Two girls divided by geographies, age, and profession, but ‘united by curls!’
Hinshara and Yuba met online through a community for those with curly hair. Despite the fact that Hinshara was an accountant and Yuba was a dentist, the two hit it off immediately because they had had similar experiences growing up as curly-haired kids.
Years were spent by both Hinshara and Yuba studying how to manage their natural hair, including how to trim it and how to create various styles. In 2016-17, they discovered the Curly Girl Method which is a book written by a stylist, through which they found the right way to manage such hair.
Gradually, with the research, they understood that the hair product requires certain ingredients which follow the requirements to manage the hair. That’s when they planned to create a brand that develops premium-quality hair care products made in India.
About the company:
Started in 2018, Manetain is a brand that helps women embrace their natural textured hair and as the name suggests, maintain it! The company is dedicated to providing its customers with the most superior hair care services and products available.
In 2021, the brand introduced its first line of hair care products- the co-wash and conditioner. While the firm continues to develop and thrive with the assistance of its Womenpreneur Curl Community, it also offers customers a distinctive and unique variety of hair products to choose from.
Since it was first introduced, Manetain has been met with an overwhelmingly enthusiastic response from its clientele. The brand has evolved into a strong community of more than 22,000 curly heads, beginning with a client base that consisted of a few WhatsApp groups catering to those with curly hair.
Revenue:
Their net sales were Rs. 12 lakhs in last month. In FY 21-22, the sales were Rs. 1 crore. Sales split is 60% from own website, 30% from marketplaces (Amazon, Sublime, etc.) % 10% from offline retails.
Average net sales are Rs. 10 lakhs with the gross profit of 60-70% & for some hair accessories, the profit goes up to 75%.
The customer acquisition cost is Rs. 200 – Rs. 250.
Founder’s Ask
75 lakhs for 2.5% equity at the valuation of Rs. 30 crores.
Offers:
Aman gave a conditional offer of 75 lakhs for 10% equity at valuation of 7.5 crores.
Condition – They need to appoint a CMO
Founder’s Counter Offer:
75 lakhs for 7.5% equity at valuation of 10 crores.
Final Deal
75 lakhs for 10% equity at valuation of 7.5 crores.
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