Petite Keep Shark Tank Update – Shark Tank Season 16
Mompreneur Lindsay Mullenger tried to bag a Shark Tank deal with her range of custom keepsake trunks.
Lindsay Mullenger, a mompreneur from St. Louis, Missouri, studied at the University of Missouri (Mizzou) before working at Procter & Gamble. While still employed there, she founded Petite Keep in February 2020. She later pitched the business on Shark Tank Season 16 Episode 9.
She created high-quality heirloom keepsake trunks designed to last a lifetime and elevate any aesthetic. The trunks could be personalized through thousands of combinations on the company’s website, allowing customers to choose colors and other specifications.
Would the Sharks see the emotional value behind Petite Keep and compete to invest in the business?
About Petite Keep
| Category | Details |
|---|---|
| Business Name | Petite Keep |
| Founder | Lindsay Mullenger |
| Industry | Furniture |
| Product | Keepsake Trunks |
| Funding (Pre-Shark Tank) | Self-funded |
| Investment Asked | $400,000 for 5% equity |
| Deal Status | Deal secured with Mark Cuban, Barbara Corcoran, and Jamie Kern Lima |
| Deal Outcome | $400,000 for 15% equity |
| Valuation (Ask) | $8 million |
| Post-Deal Valuation | Approximately $2.67 million |
Lindsay explained that Petite Keep focused on emotion and nostalgia by giving families a place to preserve meaningful items such as christening gowns, sports memorabilia, and wedding heirlooms.
Each trunk was available in different sizes. The mini trunk sold for $195, the petite trunk for $275, and the grand trunk for $350.
Petite Keep Shark Tank Pitch
Lindsay entered the Tank seeking $400,000 for 5% equity in Petite Keep. She presented personalized sample trunks to each Shark, including a “Queen of QVC” trunk for Lori Greiner, a “Wonder” trunk for Jamie Kern Lima, a “Nana” trunk for Barbara Corcoran, a bridal trunk for Kevin O’Leary, and a family trunk for Mark Cuban.
The Sharks admired the quality and padded interior of the trunks, although Kevin joked that one looked like a coffin. Jamie immediately felt there was a strong connection with the product.
Lindsay shared the company’s impressive growth. Petite Keep generated $110,000 in sales during its first year, followed by $660,000 in 2021, $1.7 million in 2022, and $5 million in 2023.
At the time of filming, year-to-date sales had reached $4.5 million, with approximately half of annual revenue typically occurring during the fourth quarter. She projected $10 million in sales for 2024.
She revealed that profit margins were 10.9% in 2023 and 7.5% in 2024. Customer acquisition costs were $86, and the business operated entirely direct-to-consumer through Shopify and Instagram, relying heavily on influencer marketing.
Lindsay explained that she had come to Shark Tank looking for a strategic advisor who would have “skin in the game.” She believed Petite Keep would eventually become a nine-figure brand.
Jamie became emotional while discussing her own adoption story and shared how Petite Keep’s mission deeply resonated with her.
What Makes Petite Keep Unique?
Petite Keep stood out through a combination of emotional storytelling and premium craftsmanship:
- It offered personalized heirloom keepsake trunks designed to last a lifetime.
- The brand focused on preserving meaningful family memories and milestones.
- Customers could choose from thousands of customization options on the company’s website.
- The business operated through a strong direct-to-consumer model supported by influencer marketing and social media.
Did Petite Keep Get a Deal on Shark Tank?
Mark Cuban initially believed the business was not the right fit for him and went out.
Jamie Kern Lima made the first offer of $400,000 for 10% equity, provided another Shark joined the deal.
Kevin O’Leary wanted to help reduce customer acquisition costs and improve return on ad spend. Calling himself the “wedding guy,” he proposed $400,000 for 20% equity, with each Shark receiving a 10% stake.
Barbara Corcoran decided not to make an offer because she believed Lindsay could succeed on her own. Lori Greiner agreed that Kevin and Jamie would make excellent partners.
Lindsay countered by asking for $400,000 for 10% equity, citing projected 2025 sales of $17 million. When Kevin and Jamie refused to change their terms, she countered again with $600,000 for 12% equity, followed by $600,000 for 15% equity.
Barbara continued encouraging Lindsay not to give away too much ownership, and Mark agreed she should not accept the 20% offer. After hearing Barbara’s perspective, Mark changed his mind.
Mark and Barbara then surprised everyone by offering $400,000 for 15% equity together. Jamie then matched Mark and Barbara’s offer and said she was also open to partnering with another Shark.
After further discussion, Lindsay accepted a deal with Mark Cuban, Barbara Corcoran, and Jamie Kern Lima for $400,000 in exchange for 15% equity.
Petite Keep Shark Tank Update
Following its appearance on Shark Tank, Petite Keep gained significant attention for its personalized keepsake trunks and emotional brand story.
The company continued expanding its direct-to-consumer business through influencer marketing, Shopify, and Instagram while building on its strong sales momentum.
Lindsay’s appearance on Shark Tank Season 16 also resulted in a rare three-Shark partnership with Mark Cuban, Barbara Corcoran, and Jamie Kern Lima, who invested $400,000 for 15% equity, with each Shark receiving a 5% stake.
The business continued growing after the show, with estimated annual revenue reaching around $10 million by 2024.
Expanding the Product Line
Shortly after the episode aired, Petite Keep expanded its product lineup by introducing the Mini Classic Trunk, designed to preserve life’s smaller but meaningful memories.
The company also launched Quick Ship Baby Trunks, offering pre-customized keepsake trunks for customers looking for personalized gifts with faster delivery.
Alongside these, Petite Keep introduced Petite Pouches, coordinating accessories that complement its signature keepsake trunks.
New Collaborations
Petite Keep also expanded through strategic collaborations, including a collection with Samantha Varvel featuring personalized keepsake trunks. These partnerships helped strengthen the brand’s position in the premium keepsake market while reaching new customers.
Continued Growth
The company continued scaling its operations from its warehouse in St. Louis while offering fully customizable trunks through its official website.
It remained focused on helping families preserve memories from weddings, births, sports, graduations, and other milestone moments with handcrafted heirloom-quality products.
The company was recognized on the 2025 Inc. 5000 list with 1,502% three-year growth, confirming its continued rapid expansion after Shark Tank.
The estimated net worth of Petite Keep is approximately $20 million to $30 million.
Where Can You Buy It?
Petite Keep trunks are available through the company’s official website, where customers can personalize their keepsake trunks by choosing from thousands of design combinations.
The brand also continues promoting its products through Instagram.
Quick Summary
- Lindsay Mullenger pitched Petite Keep, a personalized heirloom keepsake trunk company, and secured a rare three-Shark investment.
- Mark Cuban, Barbara Corcoran, and Jamie Kern Lima invested $400,000 for 15% equity, helping support the brand’s continued expansion.
- After Shark Tank, Petite Keep introduced new products like the Mini Classic Trunk, Quick Ship Baby Trunks, and Petite Pouches.
Check out other Shark Tank Season 16 Episodes.
More products from this episode! Check out the other businesses that participated alongside Petite Keep.
