Delhi-based premium shoe care startup SNEAKINN showcased their innovative business model on Episode 11 of Shark Tank India Season 4. The company has revolutionized the luxury footwear maintenance industry since its inception in 2020.
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Table of Contents
Quick Facts About SNEAKINN
Company Name | SNEAKINN |
Founders | Sahil Jain and Arunima Singhal |
Founded | 2020 |
Location | New Delhi |
Industry | Consumer Services (Premium Shoe Care) |
Asked Investment | ₹90 Lakhs for 3% equity |
Asked Valuation | ₹30 Crores |
Final Deal | ₹90 Lakhs for 6.5% equity |
Final Valuation | ₹13.85 Crores |
Investing Shark | Anupam Mittal |
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About SNEAKINN: Elevating Shoe Care to an Art
SNEAKINN has established itself as a specialized service provider in the premium accessories care segment. Their comprehensive service portfolio includes:
- High-end sneaker cleaning and restoration
- Designer handbag maintenance
- Premium leather accessories care
- Custom care solutions for luxury footwear
- Professional restoration services for boots and leather jackets
- Belt cleaning and maintenance
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The Shark Tank India Pitch
The founders presented their business model to the complete panel of sharks:
- Anupam Mittal
- Namita Thapar
- Vinita Singh
- Kunal Bahl
- Ritesh Agarwal
They sought ₹90 Lakhs for 3% equity, valuing their company at ₹30 Crores.
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Deal Details and Negotiations
After thorough discussions and negotiations, SNEAKINN secured a deal with Anupam Mittal:
- Investment Amount: ₹90 Lakhs
- Equity Given: 6.5%
- Final Valuation: ₹13.85 Crores
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Business Model and Market Opportunity
SNEAKINN has identified and capitalized on several key market factors:
- Growing luxury footwear market in India
- Increasing awareness about premium shoe care
- Rising demand for professional maintenance services
- Gap in specialized care for high-end accessories
- Urban consumers’ willingness to invest in maintenance
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Growth Strategy and Future Plans
With Anupam Mittal’s investment and guidance, SNEAKINN plans to:
- Expand their service centers across major cities
- Enhance their technology infrastructure
- Develop specialized cleaning products
- Build a stronger brand presence
- Train more shoe care specialists
- Introduce new service categories
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Competitive Advantages
SNEAKINN stands out in the market due to:
- Specialized expertise in premium shoe care
- Use of high-quality cleaning materials
- Customized treatment for different materials
- Professional restoration techniques
- Focus on luxury segment
- Attention to detail
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Conclusion
SNEAKINN’s successful pitch on Shark Tank India Season 4 demonstrates the potential in India’s growing luxury care services market. The investment from Anupam Mittal not only provides financial backing but also brings strategic expertise to scale the business nationally. As the luxury market continues to grow in India, SNEAKINN is well-positioned to become a leader in premium accessories care and maintenance.
FAQs
When was SNEAKINN founded?
2020
Who are the founders of SNEAKINN?
Sahil Jain and Arunima Singhal