Inside This Jaipur-Based Startup’s Transparency Revolution In Beauty Industry

The serum industry has been revolutionised by the Jaipur-based skincare business Minimalist thanks to its emphasis on consumer-friendly ingredient disclosure. The ‘transparent beauty’ brand Minimalist, which is owned by Uprising Science Pvt Ltd, was established in October 2020 by Rahul and Mohit Yadav.

According to Yourstory, Minimalist first introduced a line of serums intended to address particular skin issues after identifying a market gap. Serums, toners, face acids, and moisturisers are just a few of the high-end skincare and haircare items that the firm now provides.

The dedication to transparency in Minimalist is one of its most notable qualities. The company takes pride in giving clients complete transparency about the composition and components of its products. Customers who value knowing what goes into the products they use on their skin and hair have paid substantial attention to and expressed their appreciation for this commitment to transparency.

start up
start up

The firm passed the Rs 100 crore revenue mark during the fiscal year 2022, according to a regulatory filing with RoC that Entrackr’s team has examined. When looking at the data in more detail, Minimalist saw a spectacular five-fold increase in product sales, with revenue increasing from Rs 21.63 crore in FY21 to Rs 108.1 crore in FY22.

A noteworthy 5.4-fold increase in advertising and promotion expenses, which amounted to Rs 33.3 crore in FY22, occurred at the same time that the brand’s sales rose. A further Rs 28.15 crore was spent on the materials used.

The total cost of operating Minimalist increased dramatically from Rupees 16.16 crore in FY21 to Rupees 89.7 crore in FY22 as a result of these expenses as well as employee perks and freight prices totaling Rs 5 crore and Rs 5.2 crore, respectively.

Minimalist was nevertheless able to turn a solid profit margin despite the increase in costs. Profit for the company increased thrice in FY22, reaching Rs. 15.85 crore.

Profit numbers are just one aspect of Minimalist’s profitable performance. Key financial metrics for the organisation show that capital investments were used effectively and that expenses were managed well. As evidence of the brand’s capacity to produce significant returns from its capital investments, the Return on Capital Employed (ROCE) for Minimalist was a commendable 19.12%. In addition, Minimalist reported a strong EBITDA margin of 20.5%, underscoring the brand’s effective business practises.

Minimalist demonstrated great cost control at the level of the individual unit by spending just Rs 0.83 to produce one unit of operating revenue. In the very competitive beauty business, this indicates the brand’s dedication to maximising effectiveness and ensuring sustainable growth.

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