Hindustan Unilever acquires 90.5% stake in beauty brand Minimalist for Rs 2,955 cr
Mumbai: Hindustan Unilever (HUL), India’s largest FMCG company, has announced the acquisition of a 90.5% stake in the Jaipur-based direct-to-consumer (D2C) beauty brand Minimalist, media reports said.
The transaction values Minimalist at a pre-money enterprise value of Rs 2,955 crore, The Economic Times reported.
HUL plans to acquire the remaining 9.5% stake from the brand’s founders, Rahul and Mohit Yadav, within the next two years.
As part of the agreement, the Minimalist team, led by the Yadav brothers, will continue managing the business operations for the next two years.
HUL stated that the acquisition would allow both companies to harness synergies and leverage their complementary strengths.
The deal, subject to regulatory approvals and customary closing conditions, is expected to conclude by the June quarter of 2025.
Launched in 2018, Minimalist has achieved rapid growth, offering a range of skin, body, and hair care products through multiple sales channels.
During its last funding round, where it raised Rs 110 crore, the brand was valued at $75–80 million.
Recent reports indicated that Minimalist had been exploring investment opportunities with financial entities, including Premji Invest, targeting a valuation in the range of Rs 2,000 to Rs 3,000 crore.
Currently, Minimalist’s founders own 84% of the company, while Peak XV Partners holds the remaining 27%.
The acquisition highlights HUL’s commitment to premium, high-margin segments, in line with parent company Unilever’s global strategy to capitalise on low-penetration categories.
HUL has been restructuring its beauty and personal care (BPC) division to strengthen its presence in the premium market.
This division accounts for nearly 20% of the company’s revenue and contributes about one-third of its profits.
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