Hindustan Unilever to Acquire Minimalist for $350 Million
Consumer goods giant Hindustan Unilever is in advanced talks to acquire the direct-to-consumer skincare startup Minimalist for up to $350 million. This acquisition would mark a significant expansion of Unilever's presence in the Indian market, following its acquisition of health and wellness brands Oziva and Wellbeing Nutrition last year. This deal would further diversify the skincare portfolio of Unilever's Indian subsidiary, which already boasts brands like Dove, Pond's, Lakme, and others.
Minimalist, based in Jaipur, offers a wide range of skincare products and has seen substantial revenue growth, reaching $40.8 million in the last fiscal year. The startup is already profitable. Hindustan Unilever, through its venture arm Unilever Ventures, previously invested in Minimalist's Series A funding round in 2021. Peak XV Partners led Minimalist's seed funding in 2019.
While talks are ongoing, the deal is not yet finalized. This acquisition reflects the growing trend of large corporations investing in and acquiring thriving D2C startups, particularly in the beauty and wellness sectors. For related news on market activity, see Xiaomi Stock Surges to Three-Year High. This acquisition could impact India's competitive landscape, similar to the shifts seen with Google Pixel's Rise in India's Premium Smartphone Market. While Minimalist focuses on skincare, this acquisition could have broader implications for the consumer goods market, much like Chinese Automakers' strong performance in 2024.