Petite Keep Update | Shark Tank Season 16
Lindsay Mullenger found that important family keepsakes like baby items and wedding memories were often stuffed into plain plastic bins, forgotten and gathering dust. She decided to fix this by creating Petite Keep, special storage trunks that keep these belongings safe while making them look beautiful. These trunks help families hold onto their most precious memories in a way that feels personal and elegant. Can Lindsay get a deal with any of the sharks? Let’s find out in our Petite Keep update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to Petite Keep after
Lindsay entered
In terms of a Petite Keep update, the company expanded its product line by introducing the Mini Classic Trunk, catering to smaller, meaningful moments. Further, Petite Keep also launched Quick Ship Baby Trunks and Petite Pouches.
| Shark | Result |
| Mark Cuban, Barbara Corcoran, and Jamie Lima | Accepted offer of $400,000 for 15% equity |
| Kevin O’Leary and Jamie Lima | $400,000 for 20% equity |
| Lori Greiner | No offer |
Shark Tank Petite Keep PitchÂ
- Entrepreneur: Lindsay Mullenger
- Business: Personalized storage trunk
- Ask: $400,000 for 5% equity
- Result: $400,000 for 15% equity
- Sharks: Mark Cuban, Barbara Corcoran, and Jamie Lima
Lindsay entered
She sought an investment to scale her direct-to-consumer business, reduce customer acquisition costs, and bring her elegant heirloom trunks to more families.
Petite Keep is a high-quality heirloom keepsake trunk designed to preserve and celebrate life’s most cherished moments.
Furthermore, these high-quality trunks are perfect for keeping sentimental items like wedding keepsakes, christening gowns, sports memorabilia, and other special belongings safe and organized.
They’re built to last, with soft interiors and customizable exteriors that look great in any home.
What makes Petite Keep unique is how easy it is to personalize each trunk. Customers can choose from thousands of design options to create something truly one-of-a-kind.
You can see your custom trunk as you design it, making the process simple and enjoyable.
Lindsay told the sharks her customer acquisition cost is $86. Currently, the Mini trunk sells for $195, the Petite for $275, and the Grand for $350.
Further, she revealed she started in February 2020, making $110,000 in sales that year, all from her website.
In 2021, sales grew to $660,000. By 2022, the business made $1.7 million. In 2023, sales hit $5 million. She’s done $4.5 million in 2024 and expects to hit $10 million by the end of the year.
Lindsay explained that she had a 10.9% profit margin in 2022, which meant about $545,000 in profit. But this dropped to 7.5% in 2023, leaving around $375,000 in profit so far.
When asked about marketing, Lindsay says she uses Instagram and influencers to promote her keepsake trunks, which are personalized and sold through a Shopify website.
Mark Cuban says Lindsay’s product is amazing and that she’s done an incredible job building the business, but he doesn’t feel passionate about the product. He exits the negotiations.
Guest shark Jamie Lima offers $400,000 for 10% equity if Lindsay gets another shark to join in.
Meanwhile, Kevin O’Leary says he sees great potential in the business and wants to help improve customer acquisition costs and marketing efficiency.
He agrees to partner with Jamie, offering $400,000 for 20% equity, each taking a 10% stake.
Barbara Corcoran says she’s done well for herself and doesn’t need a partner. She’s out.
Lori Greiner admires Lindsay’s creativity and business acumen but believes her percentage ask would not be fair for what she would bring to the table. She exits the negotiations.
Lindsay emphasizes her $17 million projections for next year and counters Kevin and Jamie for $400,000 for 10% equity.
They refused and she countered again for $600,000 for 12% and 15% equity. Kevin doesn’t budge.
After some back and forth, Barbara and Mark reentered the deal, offering $400,000 for 15% equity. Jamie joined them, and they agreed to split the equity equally, with each taking 5%.
Lindsay immediately accepts the offer and leaves with a deal in hand.
Let’s get a Petite Keep update and see where the company is after its
Shark Tank Petite Keep UpdateÂ
Our Petite Keep update found that shortly after its episode aired, the company expanded its product line and introduced the Mini Classic Trunk, designed for life’s smaller moments.
Additionally, they’ve launched new Quick Ship Baby Trunks and coordinating Petite Pouches, providing pre-customized options for customers seeking personalized gifts.
Further, the company has also engaged in notable collaborations, including a collection with Samantha Varvel, featuring personalized keepsake trunks.
Personalized trunks are available on the Petite Keep website.
We can’t wait to see Lindsay’s progress in our next Petite Keep update.
For more updates from the
Before you go, be sure to check out our list of all the Shark Tank Season 16 products.
Marvin Uzor
Marvin Uzor is a content contributor for Shark Tank Recap. He specializes in crafting engaging, well-researched content that delve into the latest Shark Tank stories, keeping readers hooked. He has a soft spot for his favorite Shark Tank companies, Bombas and Doorbot, known for their innovation and impact.