Minimalist Will Die in 3-5 Years, I So Badly Hope I’m Wrong: Shantanu Deshpande
In a shocking prediction, Bombay Shaving Company CEO Shantanu Deshpande has claimed that the skincare brand Minimalist will cease to exist in 3-5 years. The statement has sent shockwaves in the beauty industry, with many wondering what could be the reasons behind such a dire forecast. In this blog post, we’ll delve into the reasons behind Deshpande’s prediction and explore the implications for the brand and its competitors.
Minimalist, a popular skincare brand, was acquired by the founders’ own company in 2019 for a staggering ₹3,000 crore. The brand has been known for its innovative products and affordable prices, which have resonated with consumers. However, according to Deshpande, the brand’s founders and CEO left the company after the acquisition, leaving it “orphaned” and vulnerable to competition and financial strains.
Deshpande’s prediction is based on his understanding of the competitive landscape in the skincare industry. He believes that the brand’s lack of leadership and direction will eventually lead to its downfall. “The plug will be pulled at some point,” he warned. “I so badly hope I’m wrong, but I think it’s inevitable.”
So, what are the reasons behind Deshpande’s prediction? One of the primary concerns is the lack of a clear direction for the brand. After the acquisition, the founders and CEO left, leaving the company without a clear vision or strategy. This lack of direction can lead to confusion among consumers and employees, ultimately affecting the brand’s performance.
Another reason for Deshpande’s prediction is the intense competition in the skincare industry. With so many brands vying for attention, it can be challenging for Minimalist to stand out and maintain its market share. The brand’s lack of a strong leadership team and direction can exacerbate this problem, making it difficult for them to adapt to changing market trends and consumer preferences.
Furthermore, Deshpande believes that the brand’s financials are not sustainable in the long term. The acquisition price of ₹3,000 crore was likely based on the brand’s initial success, but without a clear strategy and direction, it’s unlikely that the brand can continue to generate the same level of revenue and profits. This can lead to financial strains, which can ultimately result in the brand’s demise.
The implications of Deshpande’s prediction are far-reaching. If Minimalist does indeed cease to exist in 3-5 years, it will have significant consequences for the brand’s employees, suppliers, and customers. The brand’s demise will also have a ripple effect on the skincare industry as a whole, as other brands may struggle to fill the gap left by Minimalist.
However, it’s worth noting that the skincare industry is highly dynamic and competitive. Brands can pivot and adapt to changing market trends and consumer preferences. If Minimalist’s new leadership team can develop a clear strategy and direction, the brand may still be able to survive and thrive.
In conclusion, Shantanu Deshpande’s prediction that Minimalist will die in 3-5 years is a stark warning for the brand and its competitors. The brand’s lack of direction and leadership, combined with the intense competition in the skincare industry, make it a challenging environment for the brand to survive. However, it’s not all doom and gloom. With a clear strategy and direction, Minimalist may still be able to overcome its challenges and thrive in the long term.
