HUL eyes skincare brand Minimalist in Rs 3,000 crore deal – Newz9

MUMBAI: FMCG large Hindustan Unilever is closing in on talks to accumulate D2C magnificence brand Minimalist in a deal that would worth the startup at about Rs 3,000 crore, sources conscious of the discussions informed TOI.
“The talks are ongoing but they are at an advanced stage and should close soon,” a supply mentioned. The acquisition will enable HUL to supply a wider and diversified slate of merchandise to customers who’re trying past the standard magnificence and private care options, in search of differentiated merchandise. Jaipur-based Minimalist – which counts Peak XV Partners as its largest institutional investor – sells a spread of pores and skin, physique and hair care merchandise.
In line with our business strategy, on an ongoing basis, we evaluate various strategic opportunities for the growth and expansion of our business. We will make appropriate disclosures whenever there is any material development that requires disclosure under applicable laws,” an HUL spokesperson mentioned. in an announcement. Peak XV Partners didn’t remark, whereas Minimalist couldn’t be instantly reached for one.

HUL has been broadening its slate of latest-age manufacturers by way of investments and acquisitions to enter new areas like well being and nicely-being in addition to faucet into the rising premiumisation development which has, in half, led to the rise of D2C manufacturers in India.
In 2022, the corporate had introduced the acquisition of a majority stake in Oziva and a minority funding in Wellbeing Nutrition. HUL has additionally been gearing its portfolio to cater to the altering consumption patterns – it already owns a spate of digital-first manufacturers like Baby Dove, Acne Beauty, Simple, Love Beauty & Planet and the addition of Minimalist will solely increase its portfolio in the area.
Last yr, HUL cut up its magnificence and private care enterprise to sharpen deal with the segments which have seen an onslaught from a crop of latest-age, digital native manufacturers which have attracted younger customers with their proposition of unpolluted magnificence. HUL’s technique is to wager on the excessive development demand areas throughout the magnificence and nicely-being area and to construct what it describes as “future formats”. The magnificence and nicely-being division at the moment contributes about 21% to HUL’s revenues.