India’s luxury shoe and handbag industry has grown rapidly in recent years, leading to the rise of brands selling high-end footwear and accessories. However, maintenance and repair services for these luxury items remained a major gap in the market. Recognizing this opportunity, Arunima Singhal Jain and Sahil Jain from Gurugram launched SNEAKINN, a startup dedicated to restoring and repairing premium handbags and shoes.
Founded to solve a common problem faced by luxury product owners, SNEAKINN has already served over 20,000 clients. The company operates a central workshop along with three retail stores in Delhi and Mumbai, and offers nationwide courier services to customers across India. Their long-term vision is to establish SNEAKINN stores in every major city.
The story behind SNEAKINN is as personal as it is entrepreneurial. Arunima and Sahil, who have known each other since school, officially married in 2023 after years of building the business together. Sahil’s idea for the startup emerged while studying in the UK, where he struggled to maintain his expensive shoes. Upon returning to India, he realized the lack of a dedicated luxury shoe and handbag restoration service and decided to launch SNEAKINN.
Their work is highly specialized—from restoring shoes chewed by pets to fixing a designer handbag damaged by burning coal. Whether it’s cleaning, coloring, repairs, or custom restoration, SNEAKINN sources high-quality materials from around the world to ensure premium results.
Financially, SNEAKINN has shown remarkable growth. The company’s revenue has surged from ₹19.8 lakh in 2020-21 to ₹5.9 crore in 2024, with a projected revenue of ₹7.3 crore by year-end. Their business is structured as follows:
•40% revenue from cleaning services
•20% from coloring
•20% from repairs
•7% from shipping
•4% from product sales
•3% from retail sales
•15% of revenue from in-store customers, while 80% comes from pickups and 5% from courier services
•43% gross margin, making it a highly profitable venture
SNEAKINN’s Shark Tank India Journey
On Shark Tank India Season 4, the founders sought an investment of ₹90 Lakhs to scale their business. Their pitch impressed all the sharks, leading to multiple offers:
•Ritesh Agarwal: Offered ₹45 Lakhs for 5% equity and ₹45 Lakhs as debt at a 10% interest rate.
•Anupam Mittal & Vineeta Singh: Teamed up to offer ₹90 Lakhs for 10% equity with a 1% royalty until the investment was recovered.
The deal became intense when Namita Thapar advised the founders not to accept the royalty structure, calling it bad for their business. Vineeta, who supported the royalty model, faced resistance from Anupam, who is usually against royalties. As a result, Anupam stated he would remove the royalty condition, but only if Vineeta was no longer part of the deal.
During negotiations, the founders lost Ritesh’s offer as he believed they were leaning toward Anupam’s deal. Sensing the advantage, Anupam played hardball, stating that he would withdraw his offer unless they agreed to 6.5% equity.
Eventually, SNEAKINN secured ₹90 Lakhs for 6.5% equity from Anupam Mittal, bringing the company’s valuation to ₹13.85 Crore—one of the standout deals of the season.
With Anupam’s investment and mentorship, SNEAKINN is set to expand its footprint, enhance its services, and solidify its position as India’s leading luxury shoe and handbag restoration brand. Their journey highlights the demand for premium repair services in the luxury market and the potential for scaling specialized services across India.
