Manetain Shark Tank
Shark Tank India Judge Amit Gupta demonstrated a perfect example of a Knight In Shining Armour. He came to the rescue of two damsels in distress aka the founders of Manetain Shampoos to whom Amit Jain another judge of the show was insulting brutally.
Not all entrepreneurs pitching their products in the show might have outstanding business acumen, but does that give any right to the judges like Amit Jain to ruthlessly tell them that their packaging is awful?
On top of that, he shamelessly asked them, whether they are really interested in building a business or are just doing a time pass. These founders had put 4 years of sweat and effort into building their business, and I would like to hear from Amit Jain why will anyone do timepass in business for 4 long years.
Judges like Amit Jain need to understand that they might not be on top of their business, but their deficiencies can also be pointed out in a respectful manner. Perhaps he could do with some lessons in politeness.
Also, he should consider that they have personally faced a lot of problems maintaining their curly hair. They had to pay a bomb for imported hair care products and to bring that cost down for Indian consumers, they started this business. They deeply understand the problems associated with having curly hair and just wanted to help.
Hinshra Manadath from Kerala and Yuba Mohammad Robin from Mumbai are the founders of Manetain. They had faced a lot of problems maintaining their curls but their life changed when they read a book called THE CURLY GIRL METHOD by a hairstylist.
After reading the book they came to know what rules they have to follow, and what ingredients their hair products should have to manage their curls. This is when they learned to embrace their curls.
Both the founders were a part of the curly girl groups. Here they came to know each other. Now the problem with embracing their curls was that they had to import products from countries like U.K. and U.S. which were quite expensive.
They wanted to provide international quality products in India. Which is the reason they started this business. Since they both live in different cities, they have divided their work. Hinshra looks after the online part of the business and Yuba overlooks the manufacturing and dispatch.
Yuba is a dentist, she has a science background and helped with the formulation of the products. Hinshra has done B.Com and worked as an audit assistant before starting this business.
Manetain Shampoo and Hair Products
Manetain is the one-stop destination for all hair solutions.
Their hair care products include Shampoos and conditioners.
Their Hair Accessories range includes
They have pledged to work towards optimizing Manetain’s textile-based products. For this, they have started a movement called ‘Manetain’s Second Life Movement’
You can send them your pre-used Manetain bonnets, robes, lycra buffs, and pillowcases, and get a sitewide 20% discount on your next purchase.
If you want to know more about how to maintain curly hair, you can check out their blogs.
Social Media Accounts
Deal or No Deal?
Original ask by the founders- ₹75 lakhs for 2.5% equity.
Vineeta explained that the product has pricing issues and lacks execution, and that is why she pulled out.
Namita Thapar reasoned that it is too early to invest in their brand and the price of the product is high.
Anupam told them that in order to make it a mass premium product they will need to focus on digital marketing. They have pricing and packaging issues and that is why he backed out.
Amit Jain ruthlessly pointed out that the packaging is bad and none of their product mentions that they are meant for curly hair. He further went on to say that the founders lack commitment and are just doing this as time pass. This did not go down well with Namita Thapar who firmly told him that labeling people is not right.
Aman Gupta came to their rescue and told them that they have made a decent product and are passionate entrepreneurs. He gave an offer under the condition that they will have to appoint a CMO. They will also have to work on packaging issues, and brand vibes and focus on performance marketing. They also need to understand Amazon marketing and Nykaa sales. He offered ₹75 lakhs for 10% equity.
Counteroffer by founders: ₹75 lakhs for 7.5% equity which Aman found hard to accept and the deal was sealed at ₹75 lakhs for 10% equity.
The reason behind the inception of shark tank is to help entrepreneurs not only financially but also show them the right path to make their businesses scale and grow.
It harms the interest of the show as well as the entrepreneurs when the judges insult them in the name of pointing out the truth.
Let us know what are your opinions on the nasty behavior of Amit jain toward the founders of Manetain founders.
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