Wed Jan 22 20:52:30 UTC 2025: ## Hindustan Unilever Acquires D2C Skincare Brand Minimalist for $342 Million

**MUMBAI, INDIA – [Date of Publication]** – Hindustan Unilever Limited (HUL), a leading fast-moving consumer goods (FMCG) company, announced today the acquisition of Minimalist, a rapidly growing direct-to-consumer (D2C) skincare brand, for approximately $342 million (INR 2,955 crore). This marks one of the largest D2C acquisitions in the Indian startup ecosystem to date.

HUL is acquiring a 90.5% stake in Minimalist for INR 2,670 crore, with plans to acquire the remaining 9.5% within two years. The founders, Mohit Kumar Yadav and Rahul Yadav, will continue to lead Minimalist’s operations for the next two years. The transaction is expected to close by Q1 FY26.

The deal represents a significant return for Peak XV Partners, a venture capital firm that invested INR 80 crore in Minimalist in 2019. Peak XV, holding a 27.5% stake, stands to gain approximately INR 800 crore (a 10X return) from the acquisition. Minimalist’s founders are expected to receive around INR 1,500 crore from the sale of their 57.35% stake.

Founded in 2020, Minimalist has achieved impressive growth, with its revenue surging 89% to INR 347.4 crore in FY24 and an annual revenue run rate of INR 500 crore by the end of December 2024. The brand sells its products directly through its website and major online marketplaces.

HUL cited Minimalist’s strong growth and product portfolio, which includes serums not currently offered in its existing skincare line, as key drivers for the acquisition. This acquisition aligns with HUL’s strategy to expand its beauty and personal care portfolio, a segment currently representing 37% of its revenue but experiencing recent slower growth. The company expects Minimalist to contribute to the revitalization of its skincare offerings.

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