Hindustan Unilever Limited (HUL) announced on Wednesday that it will acquire a 90.5% stake in Minimalist—a premium, science-backed skincare and haircare brand founded by Mohit Yadav and Rahul Yadav in 2020.
The deal involves both secondary buyouts and primary infusion, with an option for HUL to acquire the remaining stake within two years.
Read more: HUL acquires 90.5% stake in premium beauty brand Minimalist
HUL Managing Director and CEO Rohit Jawa highlighted Minimalist’s strong brand proposition rooted in “#HideNothing,” lauding the founders for creating an exceptional portfolio driven by product efficacy, transparency, and consumer trust. “Minimalist, a premium skin care and hair care brand, envisioned and crafted by the passionate co-founders Rahul Yadav and Mohit Yadav will soon become a part of our portfolio of iconic brands,” he wrote in a social media post.
Jawa further added that by harnessing HUL’s research and development capabilities, supply chain expertise, and wide distribution network, Minimalist is expected to further strengthen its presence in India’s burgeoning premium beauty market.
Minimalist has grown rapidly since its inception, becoming the country’s fastest-growing direct-to-consumer (D2C) skincare brand.
The startup, backed by Peak XV Partners (formerly Sequoia Capital India), raised USD 15 million in a Series A funding round, with participation from Unilever Ventures.
Founders Mohit and Rahul Yadav collectively hold 62% of the company’s shares, while Peak XV Partners holds 27.9%. Minimalist’s robust online presence spans e-commerce platforms such as Nykaa, Flipkart, Amazon, and Myntra—an edge that HUL aims to leverage as it integrates the brand into its portfolio of iconic consumer offerings.
Read more: Hindustan Unilever’s premiumisation bets, acquiring majority stake in Minimalist