Skincare brand Minimalist records a 70% increase in revenue to Rs 184 crore in FY23; profit falls by 69%

December 2, 2023

, By Editorial Team

Share via:

Indian D2C skincare brand Minimalist has reported a significant revenue increase. In FY23, the company’s revenue surged by 70.3% to Rs 184 crore, up from Rs 108 crore in FY22. However, this growth came with a decrease in profit, which fell by 68% to Rs 5 crore in FY23.

Expansion and investment plans

The Jaipur-based startup, co-founded by Mohit and Rahul Yadav, plans to invest Rs 100 crore in a new manufacturing unit in Jaipur. According to the startup, the facility is expected to be five times larger than the current plant, which produces 1.5 lakh units daily.

Additionally, It aims to open its first Exclusive Brand Outlet (EBO) by March 2024 and launch around 100 EBOs in the next 18-24 months.

Online dominance and international presence

Currently, 90% of Minimalist’s revenue comes from online channels, with the remainder from offline sources. The brand has a significant international presence, including in the US, the UK, the Middle East, and Southeast Asia, with plans to expand further into Canada and Europe.

What does Minimalist do?

Minimalist offers a range of skin and hair care products, including serums, toners, and moisturizers. The brand currently offers 40 SKUs across three categories and plans to introduce 6-8 new SKUs and mini versions of popular products.

In the competitive D2C skincare market, Minimalist faces rivals like Sugar, Wow Skin Sciences, and Mamaearth.

Join our new WhatsApp Channel for the latest startup news updates

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

Government prohibits the use of ‘dark patterns’ on e-commerce platforms to deter consumer manipulation

Next News

Tax Filing Platform Clear’s FY23 Revenue Jumps Over 85% To Cross INR 100 Cr Mark

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.

Popular

More Like this

Skincare brand Minimalist records a 70% increase in revenue to Rs 184 crore in FY23; profit falls by 69%

December 2, 2023

, Published By Editorial Team

Indian D2C skincare brand Minimalist has reported a significant revenue increase. In FY23, the company’s revenue surged by 70.3% to Rs 184 crore, up from Rs 108 crore in FY22. However, this growth came with a decrease in profit, which fell by 68% to Rs 5 crore in FY23.

Expansion and investment plans

The Jaipur-based startup, co-founded by Mohit and Rahul Yadav, plans to invest Rs 100 crore in a new manufacturing unit in Jaipur. According to the startup, the facility is expected to be five times larger than the current plant, which produces 1.5 lakh units daily.

Additionally, It aims to open its first Exclusive Brand Outlet (EBO) by March 2024 and launch around 100 EBOs in the next 18-24 months.

Online dominance and international presence

Currently, 90% of Minimalist’s revenue comes from online channels, with the remainder from offline sources. The brand has a significant international presence, including in the US, the UK, the Middle East, and Southeast Asia, with plans to expand further into Canada and Europe.

What does Minimalist do?

Minimalist offers a range of skin and hair care products, including serums, toners, and moisturizers. The brand currently offers 40 SKUs across three categories and plans to introduce 6-8 new SKUs and mini versions of popular products.

In the competitive D2C skincare market, Minimalist faces rivals like Sugar, Wow Skin Sciences, and Mamaearth.

Join our new WhatsApp Channel for the latest startup news updates

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

Previous News

Government prohibits the use of ‘dark patterns’ on e-commerce platforms to deter consumer manipulation

Next News

Tax Filing Platform Clear’s FY23 Revenue Jumps Over 85% To Cross INR 100 Cr Mark

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.

More like this

Popular

Block title