Minimalist, the skincare and beauty brand under Hindustan Unilever, turned profitable in FY26 with ₹25.9 Cr net income and saw revenues climb 36% year-on-year, marking a significant turnaround after previous losses impacted by exceptional charges.
- Minimalist posts ₹25.9 Cr net profit in FY26 after a prior loss
- Revenue rises 36.3% to ₹690.2 Cr driven by product and channel growth
- Offline presence to expand from 3,000 to 40,000 stores
What happened
Minimalist, a beauty and personal care brand acquired and majority-owned by Hindustan Unilever (HUL), returned to profitability in FY26 after posting a net loss in the previous year. The net profit for FY26 was ₹25.9 Cr, recovering from a ₹270.5 Cr loss in FY25, when an exceptional charge significantly impacted results. Operating revenue rose sharply by 36.3% to ₹690.2 Cr, reflecting strong sales momentum.
The brand’s growth was driven by a combination of product expansion, including a focus on key categories like serums and moisturizers, and an aggressive push into new channels. Minimalist’s digital-first strategy helped deepen consumer engagement while the offline retail footprint expanded rapidly. HUL acquired a 90.5% stake in Minimalist’s parent company Uprising Science in April 2025, accelerating the brand’s market presence.
Why it matters
Minimalist’s profitability after several years of losses demonstrates the effectiveness of HUL’s acquisition strategy and the rising consumer demand for masstige products—offering luxury appeal at accessible prices. This shift highlights evolving preferences in India’s beauty market, where consumers seek quality and affordability supported by digital access.
The brand’s rapid expansion from 3,000 to a planned 40,000 offline stores symbolizes growing confidence in omnichannel retail approaches in the Indian personal care sector. The synergy unlocked through HUL’s manufacturing, media, and procurement capabilities further strengthens Minimalist’s positioning, potentially setting a benchmark for other niche brands aiming for scale under large conglomerates.
What to watch next
Market watchers should monitor how Minimalist sustains its growth momentum while managing increased expenditures, which rose 33.8% to ₹664.9 Cr in FY26. Key cost components include raw materials, which grew substantially, and rising employee expenses as the company expands operations and workforce to support scale.
Additionally, the success of Minimalist’s offline expansion will be critical to watch. The ability to penetrate 40,000 stores effectively will test the brand’s supply chain and retail partnerships. Monitoring consumer response to new product launches and continued digital engagement will also provide insights into Minimalist’s long-term growth trajectory in India's competitive beauty and personal care space.