“Hindustan Unilever Dives into Premium Skincare Market with Acquisition of Minimalist for $342 Million”
In a strategic move to dominate India’s flourishing premium skincare market, Hindustan Unilever has set its sights on acquiring Minimalist, a beauty startup, for a staggering $342 million. This acquisition not only strengthens Unilever’s position in the high-end beauty sector but also adds another jewel to its crown alongside renowned brands like Dove and Pond’s.
Founded in 2020 by Mohit Yadav and Rahul Yadav, Minimalist has carved a niche for itself with its range of actives-led skincare products, reeling in an impressive annual revenue of over ₹5 billion. The Jaipur-based startup’s success story caught the eye of Unilever Ventures, who invested in its Series A round back in 2021.
Minimalist’s foray into e-commerce has been commendable, a feat that Hindustan Unilever aims to further amplify by leveraging its extensive retail network. With plans to enhance the brand’s offline presence, the acquisition is poised to propel Minimalist to new heights under Unilever’s wing.
Rohit Jawa, CEO of Hindustan Unilever, expressed his excitement about the acquisition, emphasizing its role in bolstering the company’s Beauty & Wellbeing portfolio. The founders of Minimalist are set to steer the ship for the next two years post-acquisition, ensuring a seamless transition and continuity of the brand’s ethos.
This groundbreaking deal not only showcases Unilever’s commitment to diversifying its product offerings but also highlights its strategic vision in tapping into lucrative market segments. As Hindustan Unilever evolves into a powerhouse in the beauty industry, the acquisition of Minimalist marks a pivotal moment in its journey towards innovation and growth.