The Power Of Minimalist Persistence: How Two Jaipur Founders Achieved A 3,265 Crore Skincare Triumph

When Mohit and Rahul Yadav decided to launch Minimalist in October 2020, they were just two young entrepreneurs from Jaipur with a big idea. Their goal wasn’t to follow trends or churn out generic products. Instead, they set their sights on shaking up the skincare industry by offering something both simple and revolutionary: transparency. Inspired by the rise of ingredient-focused brands like The Ordinary, they set out to challenge long-standing myths, misinformation, and over-the-top claims that plagued the beauty world. What followed was a remarkable story of growth, innovation, and one of India’s most celebrated D2C startup exits.

Minimalist Rise- From Tier 2 Beginnings to a National Sensation

Launching in Jaipur, a Tier 2 city, might have seemed unconventional. Yet, it allowed Minimalist to stand out. The Yadavs knew their audience well: educated consumers craving products that actually worked and didn’t rely on flashy ads or inflated promises. Their first products—simple, science-backed serums like Niacinamide and Vitamin C—resonated deeply with this crowd. Within just a year, Minimalist became a social media sensation, thriving on influencer collaborations, direct-to-consumer sales, and transparent ingredient lists that were a breath of fresh air in an often murky market.

By December 2021, Minimalist wasn’t just another skincare brand; it was a movement. Social media buzz turned into skyrocketing demand. The brand’s monthly sales hit ₹20 crore, and its product lineup expanded to include AHA/BHA exfoliators, sunscreens, and more. Minimalist’s approach—education first, products second—set it apart. Customers knew what they were putting on their skin and why it worked, and that trust turned into loyalty.

Breaking Revenue Records and Attracting Big Investors
Minimalist’s success wasn’t just a fluke—it was backed by stellar numbers. By July 2022, the brand had hit ₹100 crore in annual revenue, achieving an impressive 5x year-over-year growth. Such momentum didn’t go unnoticed. Global players like Peak XV (formerly Sequoia Capital India) and Unilever Ventures took a closer look and decided to invest. A combined stake of 27% was purchased for a staggering ₹572 crore, bringing in resources to supercharge R&D, streamline the supply chain, and expand dermatological testing. With this strategic backing, Minimalist solidified its place as a skincare heavyweight.

Expanding to Global Shores and Competing with Giants
As 2023 rolled around, Minimalist wasn’t content to rest on its laurels. The Yadavs knew the brand’s science-backed approach could resonate far beyond India. They secured ₹110 crore in funding to venture into international markets, targeting the UAE, Singapore, and Bangladesh. By leveraging platforms like Amazon, Nykaa, and local e-commerce channels, they rapidly scaled their presence abroad.

This expansion didn’t just bring visibility—it brought results. By the end of the year, revenue had surged to ₹184 crore, with profits of ₹5 crore. Minimalist was no longer just a niche player; it was outperforming local competitors like Plum, Pilgrim, and even the unicorn Mamaearth. The brand’s clear messaging, proven results, and innovative products positioned it as a frontrunner in the increasingly crowded skincare space.

Entering Offline Retail and Doubling Down on Growth
Despite their dominance in the online space, the Yadavs knew that to capture the full market, they had to think beyond digital. In March 2024, Minimalist took the plunge into offline retail, opening its first store in Delhi. This move marked the beginning of an omnichannel strategy—one that allowed customers to touch, feel, and experience products firsthand.

By October 2024, this hybrid approach paid off handsomely. Revenue doubled to ₹347 crore, and profits jumped to ₹10.9 crore. More importantly, Minimalist had grown from a D2C darling into a mainstream skincare leader, competing head-to-head with global behemoths like L’Oréal. The brand’s focus on ingredient transparency, effective formulations, and consistent quality continued to win over both new and returning customers.

The Big Acquisition
Minimalist’s rise to the top didn’t go unnoticed by industry giants. By late 2024, Hindustan Unilever Limited (HUL)—one of the world’s most powerful consumer goods companies—had its eye on the brand. HUL saw Minimalist not only as a fast-growing player but also as a strategic fit for its premium beauty portfolio. With its strong appeal among Gen Z and millennials, Minimalist represented the future of skincare.

In January 2025, the deal was finalized. HUL acquired a 90.5% stake in Minimalist for ₹2,955 crore, with plans to purchase the remaining 9.5% by 2027. This brought the total acquisition value to ₹3,265 crore, making it the largest-ever D2C beauty acquisition in India. The news sent ripples through the startup ecosystem—two young founders from Jaipur had built a company that not only competed with global giants but also commanded one of the highest valuations in the industry.

What Made Minimalist Stand Out?
Minimalist’s journey from a small Jaipur-based startup to a ₹3,265 crore acquisition is a masterclass in execution. Mohit and Rahul Yadav weren’t just riding trends; they were defining them. By focusing on a few core principles, they turned Minimalist into a standout brand:

• Transparency Above All: Customers knew exactly what they were putting on their skin. The brand’s commitment to simple, clear ingredient lists and honest claims built trust and loyalty.
• Customer-Centric Growth: Minimalist didn’t just sell products—it educated consumers. The brand’s content-driven approach created a community of informed, engaged users who became its biggest advocates.
• Scalability Without Compromise: Despite rapid growth, Minimalist maintained product quality and consistency. From launching in new countries to entering offline retail, every move was calculated, ensuring sustainable success.
• Long-Term Vision: By focusing on long-term profitability rather than short-term gains, Minimalist attracted the right investors, secured significant funding, and ultimately positioned itself for a blockbuster acquisition.

A Legacy in the Making
The story of Minimalist isn’t just about two boys from Jaipur building a ₹3,265 crore company—it’s about what’s possible when passion, innovation, and resilience come together. Mohit and Rahul Yadav have left a lasting legacy in the Indian skincare industry. By challenging the status quo, they proved that a brand from a Tier 2 city could take on global giants and win. And their success serves as a beacon of inspiration for every entrepreneur with a bold idea and the determination to see it through.