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 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.

FMCG major Hindustan Unilever Limited has acquired 90.5 percent stake in skincare startup Minimalist for Rs 2,955 crore, the company said while announcing its December quarter results on January 22. Moneycontrol had first reported about HUL’s deal to acquire Jaipur-based Minimalist on January 3.