Minimalist's revenue was ₹347.4 crore in FY24; HUL acquired a 90.5% stake in January 2025
Business
Minimalist, the D2C skincare brand now backed by Hindustan Unilever (HUL), reported revenue of ₹347.4 crore in FY24.
Founded by Mohit and Rahul Yadav in Jaipur, the brand is growing fast, but expenses climbed too, and the company reported a net loss of ₹31.5 crore in FY24.
Minimalist's rise and HUL's investment
HUL bought a 90.5% stake in January 2025; the transaction was expected to be completed in Q1 FY26.
You'll find their serums and moisturizers everywhere from Amazon to Nykaa.
New-age beauty brands and the D2C boom
Minimalist's rise shows how new-age beauty brands can scale quickly—and why big players like HUL want a piece of the action.
With revenue of ₹347.4 crore in FY24 and a net loss of ₹31.5 crore, they're set up for more growth ahead.