Unilever India to AcquirePremium Beauty Brand Minimalist

Unilever India (HUL) is acquiring Indian premium beauty brand Minimalist, with the acquisition expected to be completed in June. Financial terms of the deal have not been disclosed. But Hindustan Unilever Ltd said it will acquire 90.5% of the company through a secondary acquisition and an infusion of capital. HUL should own Minimalist completely within two years. The brand team will continue to run the business in partnership with HUL.

“This acquisition is another key step in expanding our beauty and wellness portfolio in the high-growth premium demand segment,” said Rohit Jawa, CEO and Managing Director of HUL, in a statement on January 22.

Strategists are focusing on India as the next frontier in the beauty market, especially as China remains weak.

Minimalist was founded in 2020 by Mohit Yadav and Rahul Yadav. Unilever said Minimalist is expected to be one of the fastest-growing digital-first brands at the intersection of beauty and active ingredient-led science, and has achieved profitable growth since day one. Its product range includes skincare and haircare. Minimalist has expanded rapidly, with annual revenue exceeding $57.8 million in four years. The company is reportedly valued at $342.3 million.

HUL Chief Financial Officer Ritesh Tiwari said: "We are excited to work with the Minimalist team to unlock value through synergies and leverage our complementary capabilities to jointly take the brand to greater heights."

The two founders jointly said: "We founded Minimalist to launch a transparent Indian beauty product range that is trusted and loved globally. We are very grateful for the strong support India has given us. Now, with the help of HUL's strong offline distribution network, we look forward to making our products more accessible across the country.

They said: "This collaboration also paves the way for us to expand into international markets and help us realize our dream of taking Minimalist to the world. "