Hindustan Unilever Limited (HUL), a fast-moving shopper goods company, is supposedly in progressed discourses to procure a larger part stake in the skincare startup Minimalistfor roughly Rs 3,000 crore (more than $350 million).

Moneycontrol, which detailed the advancement to begin with, said that it would also be one of the biggest deals in the direct-to-consumer (D2C) space in later years.

Founded by serial entrepreneurs Mohit and Rahul Yadav, Minimalist is a skin and hair care brand advertising items such as serums, toners, and moisturizers. The deal of these items was the sole source of income for the brand in the final monetary year.

Minimalist retails through its possess site as well as third-party e-commerce stages like Amazon, Nykaa, and Flipkart,among others.

 HUL representative said, “In line with our commerce strategy, on a continuous premise, we assess different key openings for the development and development of our trade. We will make appropriate disclosures at whatever point there is any fabric advancement that requires disclosure beneath appropriate laws.”

Queries sent to Minimalist did not get a prompt response.

Minimalist’s income from operations surged to Rs 347 crore in FY24, up from Rs 184 crore in FY23. In spite of expanding showcasing costs, the company’s benefits bounced two-fold to Rs 10.83 crore in the final monetary year.

Minimalist has raised around $17 million to date, counting its Arrangement A circular driven by Top XV (once in the past Sequoia Capital), which holds a 27.9% stake as the biggest outside shareholder. Its co-founders, Mohit and Rahul Yadav, together control 62% of the company, as per TheKredible.

In December 2022, HUL obtained a 51% stake in D2C brand Oziva for a cash thought of Rs 264.28 crore.

source: entrackr.