New Delhi, India: A bold and controversial statement from Shantanu Deshpande, the founder and CEO of the Bombay Shaving Company, has sent shockwaves across India’s expanding skincare business. Deshpande said on LinkedIn that the popular Indian skincare brand Minimalist is likely to “die (or cease to exist in any meaningful way) in the next 3–5 years” after Hindustan Unilever (HUL) bought it for about ₹3,000 crore earlier this year.
Deshpande’s prognosis is based on the fact that Minimalist’s founders, Mohit and Rahul Yadav, just left. He says they “sold for a whopping ₹3,000 crore, made ₹2,000 crore for themselves, ₹1,000 crore for others, and have left.” Deshpande said it was “the right thing to do” and that he “would have done the same,” but he painted a grim image of Minimalist’s future. He said the brand is now “orphaned” because its original visionaries are no longer in charge and its former CEO is also out of the picture.
Worries About Being Imitated and the “Zombie Business” Fate
The CEO of the Bombay Shaving Company said that the skincare market is “saturated” and that Minimalist’s products are “easily imitable.” He said that the brand could become “alienated” if new leaders focused on old business methods like “focusing on the core” and “innovating for the consumer.” Deshpande even said that Minimalist’s parent company might “put it on life support,” turning it into a “zombie business”—a business that makes money but doesn’t really have a purpose or direction for its shareholders, who would be “₹3,000 crore poorer” in terms of return on investment.
Deshpande ended his post with a note of hope, saying, “I so so so badly hope I’m wrong,” even though he was sure he was right.
Mixed Reactions and Industry Scrutiny
Deshpande’s LinkedIn post soon went viral on social media, sparking a heated discussion among users. A lot of people who commented on Deshpande’s post said he had a sour attitude. Some people even thought his comments might have come from problems his own firm, Bombay Shaving firm, was facing or from jealousy over the Minimalist founders’ big money.
“He’s clearly letting it out because of possible reasons: BSC isn’t growing.” One user said, “Minimalist founders have made a lot of money by selling stake.” Another person said, “I think that if he put the same amount of effort into his products as he does into his philosophy, he would definitely kill it.”
On the other hand, some people defended Deshpande, seeing his views as a valid critique from another founder in the competitive D2C industry. “All I see is a founder in the same field sharing his opinion. It could be wrong, or it could not be. “Either way, it’s good to start a conversation,” one fan said. “His opinions are his own,” another person said, “but a lot of people will support the company he built and the things he made.”
Hindustan Unilever Limited (HUL) bought Minimalist in January 2025 for ₹2,955 crore (about $350 million), giving HUL a 90.5% stake in the company, Uprising Science Pvt Ltd. It was thought that the founders, Mohit and Rahul Yadav, would still be in charge of the company for two years after the purchase. HT.com has apparently contacted Minimalist to get their official comment to Deshpande’s controversial forecast. This story will be updated whenever a statement is received.