Mohit Yadav is the co-founder and CEO of Minimalist, a skincare brand launched in October 2020. In January 2025, Hindustan Unilever acquired a 90.5% stake in Minimalist for ₹2,955 crore, marking one of the largest beauty brand exits in India’s startup ecosystem.
Who is Mohit Yadav?
Mohit Yadav isn’t your typical Silicon Valley-style founder. A Gold Medalist Chartered Accountant with an All-India Rank of 26 from ICAI, he spent over a decade in corporate finance before diving into entrepreneurship. His resume includes stints at Deloitte, Credit Suisse, and CarDekho, where he even ran their Indonesian operations as CEO of Oto.com.
But what sets him apart is his approach to business. While most D2C founders chase growth at any cost, Mohit’s CA training made him obsessed with something old-fashioned: profit. Minimalist reported ₹10.83 crore in profit on ₹347 crore revenue in FY24, making it the only skincare startup to turn a profit that year, according to Entrackr.
Business Background
Mohit Yadav launched Minimalist with his brother Rahul Yadav in 2020. The brand focused on transparent, science-backed skincare formulations in a market where most products emphasized natural ingredients and celebrity endorsements. Starting with 1,000 bottles sold via Instagram, the company reached ₹100 crore revenue within eight months.
The brand’s approach drew inspiration from The Ordinary, a U.S.-based ingredient-focused skincare brand. When launched, Minimalist faced criticism on platforms like Reddit and Instagram for similarities in packaging, labeling design, and product formulation with The Ordinary. According to Flora Fountain’s analysis, critics referred to Minimalist as “The Ordinary’s Indian twin.”
Mohit Yadav addressed the controversy publicly, stating that while The Ordinary influenced their initial packaging and strategy, Minimalist’s formulations were designed for Indian skin concerns, humidity levels, and price points. According to My PM Interview, he stated: “Minimalist wouldn’t exist if The Ordinary was in India.”
Mohit Yadav Education: From Commerce to Chartered Accountancy
Mohit Yadav’s educational journey reflects a methodical approach to learning. He holds a Bachelor of Commerce degree from the University of Rajasthan, following it up with the rigorous CA qualification. Securing AIR 26 and a Gold Medal isn’t just about intelligence, it requires discipline and an analytical mindset that would later shape how he built businesses.
The Road Before Minimalist: Three Ventures, Two Exits, One Failure
Mohit’s entrepreneurial journey began in 2008 with Scopial Fashion (later Mangostreet), a kids’ fashion brand he co-founded with his brother Rahul that was acquired by Hushbabies in 2012. After the exit, he joined CarDekho as Vice President and spent two years in Jakarta running Oto.com, their Indonesian joint venture with Emtek, according to Crunchbase.
His third venture, Freewill (2018-2020), was a personalized haircare brand backed by Sequoia’s Surge program that raised nearly ₹100 crore and sold 2.5 lakh products with 80% five-star ratings—but scaling personalization proved too expensive, and they shut it down after two years.
Most founders would hide this failure; Mohit doesn’t. On Shark Tank India, according to Outlook Business, he openly discussed how Freewill’s lessons became Minimalist’s foundation.
Mohit Yadav’s age is 41 years old as of 2025. His professional timeline spanning over 15 years in corporate roles and entrepreneurship. He was born and raised in Jaipur, Rajasthan.
How Minimalist Started: 1,000 Bottles and a Controversial Strategy
In October 2020, Mohit and Rahul launched Minimalist with a simple Instagram post. They had manufactured just 1,000 bottles, uncertain if anyone would care about science-backed skincare in India.
Within two days, they had 10,000 followers and sold out completely. Within eight months, they hit ₹100 crore in revenue.
The Ordinary Elephant in the Room
Here’s where the story gets controversial. Minimalist’s packaging, labeling, and entire approach closely resembled The Ordinary, a cult-favorite American brand known for transparent, ingredient-focused skincare. Critics on Reddit and Instagram called Minimalist “The Ordinary’s Indian twin,” according to Flora Fountain’s analysis.
Mohit addressed this head-on. He acknowledged The Ordinary’s influence but argued that Minimalist’s formulations were designed for Indian skin, humidity levels, and price points. As he told My PM Interview: “Minimalist wouldn’t exist if The Ordinary was in India.”
Whether you see this as smart localization or blatant copying depends on where you stand. But there’s no denying it worked. Indian consumers got The Ordinary’s approach at ₹300-₹700 per product instead of ₹2,000-₹3,000.
The Business Model That Worked
Most D2C brands burn money on marketing, hoping to achieve scale before profitability. Minimalist flipped this. They maintained a 4% EBITDA margin and 9% ROCE while spending 35% of revenue on advertising, according to Entrackr.
The numbers tell the story:
- FY23: ₹184 crore revenue, ₹5 crore profit
- FY24: ₹347 crore revenue, ₹10.83 crore profit
That’s 89% revenue growth with doubled profits. In a sector where most brands are hemorrhaging money, Minimalist was printing it.
The ₹1 Crore Home Loan Gamble
During his Shark Tank India appearance, Mohit revealed something most successful founders hide: he took a ₹1 crore home loan to start Minimalist. “I feared that my family won’t even have a home,” he said, according to Outlook Business.
This wasn’t a Silicon Valley story of raising millions before launch. It was a middle-class Indian betting his family’s security on an idea.
Mohit Yadav Net Worth: From Home Loan to ₹1,600 Crore
Mohit Yadav’s exact net worth isn’t publicly disclosed, but we can piece together an estimate. When HUL acquired 90.5% of Minimalist for ₹2,955 crore in January 2025, reports suggested the Yadav brothers earned approximately ₹1,600 crore from the deal, according to StoryBoard18.
Before the acquisition, the brothers controlled 62% of the company, with Peak XV Partners (formerly Sequoia) holding 27.9%. Beyond Minimalist, Mohit has made strategic investments, including ₹148.6 crore in Bold Care, a men’s wellness platform.
Conservative estimates place Mohit Yadav’s net worth in the ₹350-450 crore range as of early 2026. Not bad for someone who mortgaged his home four years earlier.
The HUL Acquisition: Why ₹2,955 Crore?
In January 2025, Hindustan Unilever paid ₹2,955 crore for a 90.5% stake in Minimalist. To understand why, look at what HUL was buying:
- A profitable D2C brand in a high-growth category
- Digital-native customer base (millennials and Gen Z)
- Proven brand-building playbook in science-backed skincare
- Entry into a segment where legacy brands struggled
The valuation was 8.5 times FY24 revenue and it reflects the premium for profitable digital brands. For context, Minimalist was previously valued at ₹565 crore (1.6x revenue). HUL paid 5x that valuation.
Mohit and Rahul continue running Minimalist for at least two years post-acquisition, ensuring brand continuity.
Shark Tank India: From Founder to Investor
In 2025, Mohit joined Shark Tank India Season 5 as an investor. His announcement on social media was characteristically direct: “Less clutter, more focus. That’s the mantra of the newest shark in town,” according to StartupTalky.
As a Shark, he brings a different perspective than typical investors. He’s built three companies, failed once spectacularly, succeeded twice, and knows what it’s like to bet everything on an idea. His focus areas as an investor mirror his experience: profitability over vanity metrics, sustainable unit economics, and science-backed claims over marketing hype.
FAQs
Mohit Yadav’s age is 41 as of 2025.
He holds a B.Com from the University of Rajasthan and is a Gold Medalist Chartered Accountant (AIR 26) from ICAI.
His net worth is estimated at ₹350–450 crore as of early 2026.
He previously worked at Deloitte, Credit Suisse, and CarDekho, and founded Mangostreet and Freewill.
Minimalist focused on capital efficiency, online-first sales, and strong unit economics, spending ₹0.95 to earn ₹1.
