The pitch
What walked into the Den
Maria Halfyard runs Mernini as a one-woman operation from St. John's, Newfoundland and Labrador, selling full-length raincoats built for the weather.
She took the Season 20 stage in episode 1, first to air in 2025, seeking $500,000 for 8.5%. That works out to an implied valuation of about $5,882,353 for a business that had booked $1.6 million in gross revenue the prior year.
After the show
What happened next
Halfyard secured a deal with Arlene Dickinson. In her own words to CBC News, she went in mainly seeking marketing expertise, since reaching the rest of the country from the far east of Canada is hard; Dickinson countered her bid, she countered back, and they reached an agreement.
The shop is open for business. A July 23, 2026 check of mernini.com returned a working cart and checkout for its raincoats.
Our read
The Hub verdict
The valuation is the headline: $500,000 for 8.5% implies about $5,882,353, and against $1.6 million in prior-year revenue that is a roughly three-and-a-half times sales multiple. Ambitious, but not unmoored for a brand with real momentum.
The deal with Dickinson is sourced and, by the founder's own account, was a genuine negotiation of counters rather than an instant yes. The one gap is that the exact cash-and-equity landing point was not itemized, so we credit the agreement without pinning a final number to it.
A sourced Dickinson deal at a high but revenue-backed multiple.
Worth knowing: Halfyard describes reaching an agreement with Dickinson, though the exact cash and equity of the final terms were not itemized in the coverage we read.
