FMCG major Hindustan Unilever Limited (HUL) may soon buy Jaipur-based skin care startup Minimalist. According to media reports, the deal will be for Rs 3,000 crore. Peak XV Partners is the promoter of Minimalist. After this deal, Minimalist’s valuation will increase from Rs 630 crore ($75 million) to Rs 3,000 crore ($350 million) in about three years. Its valuation will increase due to revenue and stable profit profile. Minimalist’s revenue was Rs 350 crore in FY 2024. This will be one of the biggest deals in the direct-to-consumer (D2C) space, especially in the skin care industry, in the last few years. Minimalist’s revenue was Rs 350 crore in FY 2024. It was Rs 184 crore in FY 2023. That is, the company’s revenue has increased by 89% in 2024 compared to 2023. In 2024, Minimalist’s profit was Rs 11 crore In 2024, Minimalist’s profit also doubled from Rs 5 crore to Rs 11 crore. The data shows that Minimalist has been profitable for at least four years. However, Minimalist founders Mohit Yadav and Rahul Yadav have not given any answer regarding this deal. The company spokesperson said, ‘According to our business strategy, we constantly evaluate various strategic opportunities for the growth and expansion of our business. Whenever there is any necessary development, we will disclose under the applicable law. FMCG giants are associating new age companies with them This deal is going to happen at a time when FMCG giants are associating new age companies with them. While this helps the big group to take advantage of the young customer base. At the same time, startups are helped to grow rapidly by taking advantage of the network created by FMCG companies. Not just HUL but other FMCG companies like Marico, ITC, Dabur are also affiliating new age brands like Beardo, Plix, Yogabar and many others and expanding their digital business.
