Mohit Yadav, co-founder of the science-backed skincare brand Minimalist and a judge on Shark Tank India, took a significant gamble to fund his venture. Yadav revealed that he mortgaged his house to secure a ₹1 crore loan for Minimalist. This revelation came during an episode of Shark Tank India Season 5, where Yadav shared his entrepreneurial journey.
Minimalist, founded in 2020 by Mohit Yadav and his brother Rahul Yadav, quickly gained recognition for its focus on transparency and effective skincare solutions. The brand's mission is to deliver highly efficacious skincare and haircare solutions to its consumers. Eschewing marketing fluff, Minimalist prioritized clear communication about ingredients, which resonated with consumers. This approach helped the brand build trust and a loyal digital community.
Yadav's path to success wasn't without its challenges. Before Minimalist, he faced setbacks with two earlier startups. He and his brother initially launched Scopial Fashion, an online T-shirt store that was later rebranded as Mangostreet, a kids' fashion brand. Despite taking money from their family, the business struggled to scale and was eventually sold to Hushbabies.com. Following this, Yadav joined CarDekho as Vice President but left to create Free Will, a startup focused on customized haircare products, which also didn't achieve substantial growth.
Undeterred by these earlier failures, Yadav applied the lessons he learned to Minimalist. The brand experienced rapid growth, with its first set of products selling out quickly after its launch in October 2020. Within eight months, Minimalist reportedly generated ₹100 crore in revenue. By 2023, the company's revenues reached ₹184 crore, with a target of ₹350 crore for 2024.
In early 2025, Hindustan Unilever Limited (HUL) acquired a 90.5% stake in Minimalist for ₹2,955 crore (approximately $350 million USD). The deal, finalized through a combination of secondary buyouts and primary infusion, marked a significant milestone in India's direct-to-consumer (D2C) space. The remaining stake is planned to be acquired within two years. Mohit and Rahul Yadav continue to lead the Minimalist team, collaborating with HUL to further expand the brand. HUL aims to leverage its robust offline distribution network to increase the accessibility of Minimalist products across India and expand into international markets.
Yadav's willingness to mortgage his house demonstrates the level of commitment and risk he undertook to bring Minimalist to life. Speaking on Shark Tank India, Yadav emphasized the importance of accepting failure and moving on to new ventures. He realized that external perceptions of failure are less important than learning from setbacks and building something new. His journey exemplifies the resilience required to succeed in the competitive world of entrepreneurship.
