Skincare startup Minimalist is planning to expand into global markets. The company is eyeing to foray into the Middle East and Southeast Asian markets.
The brand announced expansion plans after securing $15 million in a Series A funding round led by Sequoia Capital India with participation from Unilever Ventures. These funds will also be utilized to enhance infrastructure, research, and development capabilities, and content curation.
Mohit Yadav, Co-Founder of Minimalist, said, “Consumers today are looking beyond marketing claims and are seeking efficacy-based skincare products. Our growth so far proves that a radical change in the skincare industry is underway. Together with our customers, we are creating ‘Skincare 2.0’ by offering proven solutions driven by scientific innovations.”
Started in 2020, Minimalist claims to have served more than one million customers. The company offers 20 products including serums, toners, face acids, and moisturizers, all made in its factories.
The skincare brand retails through online marketplaces like Amazon, Nykaa, Flipkart, and Myntra, apart from its own website.
“We are exploring offline retail as well. We will create a roadmap for offline expansion. The plan is to sell through our own retail stores in due course,” Yadav stated.
Pawan Chaturvedi, Partner at Unilever Ventures, added, “Minimalist is trailblazing science-backed clean beauty formulations in India, a trend that has gained massive consumer acceptance worldwide and with growing consumer traction in India.”