Sneakinn Got the Deal at shark Tank | Redefining Luxury Restoration | Shark Tank India |

#Founders: Sahil Jain and Arunima Singhal Jain (A Dynamic Couple)
Location: Gurugram
Website: https://sneakinn.in/
Company Name: SNEAKINN

Introduction

Sneakinn is revolutionizing the way Indians maintain and restore their beloved luxury goods. With a mission to revive and enhance premium products, Sneakinn focuses on services such as cleaning, repairing, and restoring shoes, handbags, and other luxury items. Beyond services, the company also offers innovative products like cleaning kits, making it a one-stop shop for luxury care.

---

Services Offered

1. Cleaning Services: Revitalizing dirty and old items with precision.
2. Color Restoration: Changing or restoring colors for shoes and bags (e.g., bag coloring costs ₹10,000–₹12,000).
3. Repairs: Fixing broken components, including replacing leather with the help of tannery collaborations.
4. Protection Services: Prolonging the life of luxury items.
5. Retail Products: Cleaning kits and other essentials for maintenance.

---

Key Achievements

• 20,000 Customers Served: A testament to the trust and quality Sneakinn provides.
• PAN-India Availability: Services are available nationwide through courier services.
• 3 Stores: Strategically located in Mumbai and Delhi, along with a centralized workshop for efficiency.

---

Market Insights

• Luxury Goods Restoration Market Size: ₹200 crore and growing.

• Sales Split:

  • Cleaning Services: 40%
  • Coloring Restoration: 20%
  • Repairs: 26%
  • Protection Services: 4%
  • Delivery: 7%
  • Retail Products: 3%

• Gross Margin: 43%

---

Operational Insights

• Channel Split:

  • Walk-ins: 15%
  • Pickup: 80%
  • Courier: 5%

• EBITDA Trends:

  • FY 2022–23: 7.6%
  • FY 2023–24: 7.3%
  • FY 2024–25 (Projected): 15.5%

---

Shark Tank Pitch Highlights

• Ask: ₹90 lakh for 3% equity (₹30 crore valuation).

Shark Offers

1. Namita Thapar: Opted out, citing scalability concerns.
2. Kunal Bhal: Declined, suggesting the company grow organically without external funding.
3. Ritesh Agarwal's Offer: ₹45 lakh for 5% equity + ₹45 lakh debt at 9% interest (3-year tenure) — ₹9 crore valuation.
4. Vineeta Singh and Anupam Mittal's Joint Offer: ₹90 lakh for 10% equity + 1% royalty until ₹90 lakh is recovered — ₹9 crore valuation.
5. Anupam Mittal's Final Offer: ₹90 lakh for 6.5% equity — ₹13.85 crore valuation.

Outcome: The founders accepted Anupam Mittal’s final offer, which valued the company at ₹13.85 crore.

---

Why Sneakinn Stands Out

Sneakinn is more than just a luxury restoration company—it’s a movement to extend the life of luxury items while maintaining their authenticity and charm. With a growing market size, a strong business model, and a passionate founding team, Sneakinn is well-positioned for long-term success.