Hindustan Unilever (HUL) is in talks to acquire Minimalist, a direct-to-consumer skincare brand for INR 3,000 crore. This will help cement HUL’s position in the skincare market and also help it expand into the well-being and health sector.
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Started in 2020 by brothers Mohit and Rahul Yadav, Minimalist has rapidly gained popularity for its science-backed, ingredient-focused skincare products. Minimalist has been performing well with a 89% rise in revenue to INR 350 crore in FY 24 with a 100% rise in profit from INR 5 crore to INR 11 crore. Offering a wide range of products in the skincare and haircare range, including hair serums and sunscreens, the Jaipur-based brand has been profitable ever since its inception. This acquisition would align with HUL’s strategy of expanding its portfolio through acquisitions and investments in promising D2C brands. In recent years,
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This deal will help HUL expand its portfolio, which already has well-known brands like Dove, Lakme, and Lux in its kitty as well as health and wellness brands such as Wellbeing Nutrition and Oziva. Earlier, in 2021, HUL had invested in Minimalist through its venture arm, Unilever Ventures.
About Minimalist
Minimalist is an Indian skincare brand known for its straightforward approach to skincare. They focus on using high-quality, science-backed ingredients in their products, often featuring active ingredients like niacinamide, hyaluronic acid, and vitamin C. Minimalist aims to provide effective skincare solutions at affordable prices, making them a popular choice among consumers.
