Hindustan Unilever will acquire a 90.5% stake in beauty startup Minimalist for approximately $342 million, aiming to strengthen its foothold in India's premium skincare market. Minimalist, founded in 2020, focuses on actives-led skincare and has reported significant annual revenues. Unilever plans to leverage its extensive retail network to enhance Minimalist's presence offline while allowing the founders to manage operations for two years post-acquisition. This move follows Unilever's previous investments in health and well-being brands, signaling a strategic expansion into growth segments of the beauty industry.
"This acquisition is another key step to grow our Beauty & Wellbeing portfolio in the high growth masstige beauty segment," said Rohit Jawa, CEO of Hindustan Unilever.
Minimalist is known for its actives-led skincare products and has reported an annual revenue run rate of over 5 billion rupees.
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