The deal gives Unilever’s Indian unit a stronger foothold in the premium beauty segment, adding to its portfolio of brands like Dove, Pond’s, and Lakmé. Minimalist, known for its actives-led skincare products, reported annual revenue run rate of over ₹5 billion and has been profitable since inception.

Hindustan Unilever announced its agreement to acquire beauty startup Minimalist for approximately $342 million, marking a significant expansion in its premium beauty segment. The deal, set to close in the June quarter pending regulatory approval,

Minimalist raised Rs 110 crore ($15 million) from Unilever Ventures, the venture arm of Unilever, which also operates HUL in India, to scale its business

Hindustan Unilever is looking to increase its play in the fast growing affluent beauty segment, add complementary offerings like serums and strengthen its presence in the ecommerce segment.

HUL acquires Minimalist for ₹2,955 crore, expanding its beauty portfolio with skincare products and AI-based solutions.

FMCG major Hindustan Unilever Limited has acquired 90.5 percent stake in skincare startup for Rs 2,955 crore in an all cash deal, the company said while announcing its quarterly results on January 22. The deal, one of the largest in the direct to consumer (D2C) space, will close by the end of the June quarter of 2025.