HUL Acquires 51% Stake in Minimalist for ₹2,706 Crore
Hindustan Unilever (HUL) has announced the acquisition of a 51% majority stake in Uprising Science, the parent company of direct-to-consumer skincare brand Minimalist, for ₹2,706 crore. The deal marks a significant entry by India’s largest FMCG player into the high-growth active beauty and premium skincare segment.
Founded in 2020 by Mohit and Rahul Yadav, Minimalist has rapidly gained traction, appealing to informed consumers with science-backed formulations and ingredient-driven transparency. The brand currently has an annual turnover of ₹418 crore and has registered over 100% CAGR in the last three years, highlighting the potential of digitally native vertical brands (DNVBs) in niche categories.
HUL will acquire the remaining 49% stake in Minimalist over a three-year period, subject to performance and valuation parameters. The founders will continue to lead the brand under the proposed ownership structure, signaling HUL’s intent to preserve Minimalist’s agile, innovation-focused DNA while leveraging its own scale and distribution capabilities.
Sanjiv Mehta, CEO and MD of HUL, emphasized the strategic rationale: “Minimalist offers a proven customer proposition in a fast-evolving space. This partnership aligns with our approach of building a portfolio of purpose-led, future-fit brands across high-growth categories.”
This move comes amid a broader industry trend where legacy FMCG majors are investing in digital-native startups to capture emerging consumer segments. The premium skincare category, especially ‘active beauty’—products featuring scientifically validated ingredients like niacinamide and retinol—has seen surging demand from younger, urban consumers seeking efficacy and ingredient transparency.
According to industry analysts, the Indian premium skincare market is expected to grow at over 10% CAGR, fueled by the rise of e-commerce, consumer education, and a shift toward self-care. HUL’s entry will likely intensify competition among established players and newer entrants in the digitally led skincare space.
For HUL, Minimalist adds a high-growth brand to its beauty and personal care portfolio, complementing others like Lakmé and Dove. For Minimalist, the partnership brings global R&D, advanced tech capabilities, and vast omnichannel reach, offering scale without compromising brand ethos.
The transaction