Skincare startup 'Minimalist' marks milestone: Achieves 350 crore revenue in FY24
Leading direct-to-consumer (D2C) skincare brand Minimalist has achieved tremendous growth in its FY24 financial performance, with revenue of ?350 crore, up 89% from the previous year. Additionally, the company's profits doubled from 
5 crore in FY23 to 10.83 crore in FY23, indicating its expanding market share and profitability. Strong marketing tactics and an efficient product range are largely responsible for this rise for the company.
5 crore in FY23 to 10.83 crore in FY23, indicating its expanding market share and profitability. Strong marketing tactics and an efficient product range are largely responsible for this rise for the company.
Minimalism has gained a lot of popularity, particularly among younger, socially concerned consumers. It is recognized for its clear formulas and reasonably priced skincare products. The company's revenue growth has been further boosted by its innovative marketing initiatives and consumer loyalty.
But this growth has also resulted in higher running costs, such as large advertising expenditures and growing labor-related expenses.
The company's profitability is increasing in spite of these difficulties, demonstrating good operational efficiency. Minimalist is concentrating on growing its company going forward and may be considering other funding rounds to support this growth.
As competition in India's skincare business heats up, Minimalist's success story demonstrates how it may develop quickly without sacrificing profitability. The company continues to develop and meet changing client demands, and its remarkable financial success in FY24 establishes it as a serious contender in the Indian D2C skincare category.
Recently, D2C skincare brand Vedix which has created their discreet place in the market with their ustomised skincare products has recently launched an exclusive shop-in-shop store in partnership with Shoppers Stop. The first Shop-in-shop store will be launched in Shoppers Stop, of Garuda Mall, Bengaluru.
