In a fascinating business manoeuvre into India’s thriving premium skincare industry, Hindustan Unilever prepares to purchase beauty-focused startup, Minimalist. The upcoming deal, valued around $342M, will see the multinational company acquire a 90.5% stake in the profitable, four-year-old brand. The remaining 9.5% is planned for purchase from the founders within the subsequent two years, as revealed in a public exchange report.
This move enables Hindustan Unilever to solidify their standing in the upper echelon beauty segment, supplementing a roster that already flaunts renowned brands like Dove, Pond’s, and Lakmé. Minimalist, renowned for its active ingredient-focused skincare products, has managed to claim an impressive annual revenue of over 5 billion rupees since its profitable inception. This expansion further underscores our commitment towards the high growth beauty market,” states Rohit Jawa, the Hindustan Unilever CEO.
Minimalist started its journey in 2020, pioneered by Mohit Yadav and Rahul Yadav. The startup, known for its eclectic products starting from sunscreen to hair-repair serum, initially attracted the venture capital arm of Unilever during its Series A funding round in 2021.
The pending acquisition is the latest of Hindustan Unilever’s growth strategies, following the purchases of Oziva and Wellbeing Nutrition last year. The deal is expected to finalize by the second quarter. The founders will retain business operational responsibilities for at least two years post-deal completion.
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