NEW DELHI: Hindustan Unilever (HUL) has acquired a 90.5% stake in the Jaipur-based beauty brand Minimalist, valuing the company at INR 2,955 crore. The deal marks a significant expansion for HUL in the growing beauty and personal care sector. The acquisition is expected to be completed by the June 2025 quarter, pending regulatory approvals.
Minimalist, founded in 2018, is a direct-to-consumer (D2C) brand known for its skin, body, and hair care products. The brand has gained significant traction in the market and was valued at INR 75-80 million during its last funding round, where it raised INR 110 crore. As part of the agreement, founders Rahul and Mohit Yadav will continue to manage the business for the next two years, ensuring a smooth transition.
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HUL aims to leverage synergies between the two companies, combining Minimalist’s strong presence in the premium beauty market with HUL’s extensive distribution network. The company’s acquisition aligns with its strategy to focus on high-margin, premium segments in line with Unilever’s global approach to tap into low-penetration categories.
The move also strengthens HUL’s beauty and personal care division, which contributes significantly to the company’s revenue and profits. This acquisition follows HUL’s recent expansion into the ‘masstige’ and digital-first beauty brands, including Dermalogica, Simple, and Love Beauty & Planet.
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The beauty market in India is rapidly evolving, with brands like L’Oréal, Mama Earth, and Nykaa gaining market share. HUL’s acquisition of Minimalist positions the company to capture a larger share of the high-growth premium beauty segment. The move is expected to further solidify HUL’s position in India’s competitive beauty market, which is experiencing significant premiumization due to rising consumer demand.