In a video call with Rohit Yadav, the 40-year-old co-founder of Minimalist, a science-driven D2C skincare brand, he reveals a simple yet profound reason for pursuing entrepreneurship: the desire to work alongside his younger brother, Rahul. Their bond, formed in childhood in Jaipur, Rajasthan, became the foundation of their entrepreneurial journey. "Growing up, we were inseparable—studying, playing, and becoming close friends," Rohit says, adding that when an investment opportunity came up with Credit Suisse in 2006, offering him a position in Hong Kong or London, he chose to stay in India to be near his brother.
This decision ultimately led to the creation of Minimalist, which launched in 2020. The brand has since gained significant traction, offering a line of 50 products across skin, body, hair, and baby care. With a focus on transparency and affordability, Minimalist aims to cater to a price-conscious market like India. Despite fierce competition from other skincare brands, such as Dr. Sheth's and The Derma Co., the company is on track to generate 350 crore in revenue for 2024.
From T-Shirts to Skincare: A Journey of Learning
Rohit and Rahul’s entrepreneurial roots date back to 2008 when they launched their first venture, an online T-shirt store named Scopial Fashions, which later evolved into MangoStreet, a children's clothing brand. In 2012, MangoStreet was acquired by Hushbabies, a now-defunct baby care platform. Rohit credits their early ventures as key learning experiences that shaped their understanding of the startup ecosystem. "We learned how the whole process worked, from raising funds to building a brand," he says.
Their entrepreneurial journey continued when they joined forces with Amit Jain, co-founder of CarDekho, in 2013, contributing to the company's early growth. Rohit eventually moved to Indonesia to lead Oto.com, a joint venture between CarDekho and the Indonesian media company Emtek. However, after two years away from family, he felt compelled to return to Jaipur. "I realized that I had moved to Jaipur to be closer to family, but then found myself in Indonesia, far from them. That's when I decided to start something new with my brother," he recalls.
The Birth of Minimalist: A Solution to a Gap in the Market
Minimalist was born from the brothers' frustration with the lack of products catering to specific skincare issues in the Indian market. At the time, the skincare industry was dominated by large, multinational FMCGs with extensive research and development budgets. These companies, according to Rohit, often tried to create products that could appeal to a mass audience of over a billion people, making it difficult to focus on niche skincare needs. "There were hardly any brands offering products aimed at specific concerns, like acne, pigmentation, or aging," he explains.
What set Minimalist apart was its emphasis on ingredient transparency and clinical efficacy. The brand’s motto, #HideNothing, reflects its commitment to honest communication with consumers. Minimalist lists detailed information about ingredients, concentrations, and the science behind each product, addressing a growing desire among consumers to make informed choices about what they put on their skin.
Despite launching during the peak of the pandemic, when many businesses struggled, Minimalist quickly found success. "With so much time at home, people began paying more attention to their skincare routines," Rohit notes. In just eight months, the company generated 121 crore in revenue, which increased to 184 crore in 2023—a 70% year-over-year growth.
Overcoming Challenges and Maintaining Profitability
Minimalist's success is not just in its revenue figures, but also in its ability to remain profitable every year, which is rare in the startup world. The brothers' backgrounds in finance and engineering have helped them manage the business effectively, while their transparent, solution-oriented approach resonates with customers. "We’ve always been driven by the idea of solving real problems for our customers," says Rohit, pointing to their focus on providing solutions for issues like pigmentation or fine lines.
The brand's expansion into baby care in 2023 marked another milestone. "There is a gap in the market when it comes to fragrance-free, safe skincare for babies," Rohit explains. Minimalist’s new baby care line, launched in June 2023, includes four fragrance-free products—bath gel, lotion, massage oil, and a diaper rash ointment—designed to meet the specific needs of babies with sensitive skin.
Building a Team and Looking to the Future
At the core of Minimalist's success is its team, which includes many formulators with backgrounds in pharmaceuticals and cosmetics. "Our team understands how different active ingredients work together to create effective formulations," says Rohit. The company’s international expansion, starting with the UAE in 2021, is another key milestone, with Minimalist now available in markets like the US, UK, Malaysia, and Saudi Arabia.
As the brand grows, word-of-mouth has been a significant driver of customer acquisition, a fact Rohit attributes to the brand’s strong foundation and transparent ethos. "We never expected the kind of response we’ve gotten, but it’s clear that people appreciate honesty in their skincare choices," he says.
Lessons from Childhood
Reflecting on his childhood, Rohit believes that his upbringing instilled in him and Rahul a strong work ethic and resilience. "Our parents worked tirelessly to ensure we had the opportunities they never had. Seeing that growing up taught us not to fear failure, which is essential in entrepreneurship. We know that most ventures will fail, but we’ve always believed that we can push through any setback."
This perseverance continues to drive the Yadav brothers as they navigate the challenges of building a business. Despite the many obstacles along the way, Rohit remains optimistic about the future. "What’s kept us going through all our ventures is the knowledge that we’ll survive the failures," he concludes. "And every success is a reminder that we're on the right path."
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