Hindustan Unilever Limited (HUL) acquired 90.5% of India’s leading skincare brand, Minimalist, on Wednesday, 22nd January. The value of the deal soars up to ₹2,955 crore (approximately $342.3 million), including debt.
HUL is a fast-moving consumer goods (FMCG) giant. As per BSE filing, HUL acquired over a 90.5% stake. Minimalist is already very popular in India. HUL will benefit from the acquisition of Minimalist, which will boost the company’s beauty and wellness portfolio. After the acquisition, the skincare brand will be directed by Harman Dhillon, Executive Director. The founders of the company will continue to oversee operations along with Hindustan Unilever’s collaboration.
Minimalism since 2020
Minimalist was founded by Mohit Yadav and Rahul Yadav in 2020. The brand is based out of Jaipur and has become one of India’s most popular skincare brands. Moreover, this skincare brand curates products that are backed up by science. In just four years, Minimalist has achieved over ₹500 crore in annual revenue run rate. The brand focuses on maintaining transparency and efficacy with the consumer base. And that is why it had a huge impact on the Indian audience in a short span of time.
The CEO and Managing Director of HUL, Rohit Jawa, expressed his excitement about the new acquisition. He stated that they are delighted to welcome Minimalist into the HUL family. They are excited to tap into the premium beauty and skincare market with Minimalist. Leveraging Minimalist’s market demand and brand reputation, HUL is going to benefit from it.
Aman Gupta, co-founder and CMO at Boat Lifestyle conveyed his excitement about the acquisition, stating it was “a BIG, BIG WIN for the entire Indian D2C ecosystem!”. Further, he stated the evolution of D2C brands over the years and how much this sector has scaled. “D2C brands are no longer “just” challengers.” – Aman said.
This strategic acquisition caters to the broader objectives of HUL. The Beauty and Well-being segment of the organization will expand to premium skincare as well as tap into high-growth categories of the beauty and personal care market.
