On June 18, French beauty giant L’Oréal announced that it has signed an agreement to acquire a majority stake in Innovist, an Indian personal care company. As India’s beauty market continues to experience rapid growth, L’Oréal aims to strengthen its competitive position and expand its presence in the region by bringing a highly popular digital-native brand portfolio into its fold.
Summary
- L’Oréal signed an agreement to acquire a majority stake in Indian personal care company Innovist
- Innovist is a digital-first company behind brands such as Bare Anatomy and Chemist at Play
- The founding team will remain involved in the business as minority shareholders
- Innovist’s brands will be integrated into L’Oréal’s Consumer Products Division portfolio
- L’Oréal aims to accelerate growth in India and strengthen its connection with digitally savvy younger consumers
Accelerating Investment in the Indian Market
The transaction marks another significant step in L’Oréal’s efforts to strengthen its presence in India. Driven by population growth, a rising middle class, and the rapid expansion of e-commerce, India has emerged as one of the most attractive growth markets for global beauty companies.
Founded in 2019 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist has quickly established itself as a science-led company with a strong digital-first approach. The company operates brands including Bare Anatomy and Chemist at Play, distributing its products through its own direct-to-consumer channels, major e-commerce platforms, quick-commerce networks, and retail partnerships across India.
Following the completion of the transaction, the founding team will remain involved in the company as minority shareholders and continue to work alongside L’Oréal India to drive future growth. Innovist’s portfolio of brands will become part of L’Oréal’s Consumer Products Division.
Nicolas Hieronimus, Chief Executive Officer of L’Oréal, commented: “Our investment in this innovative Indian start-up is a clear testament to our unwavering commitment to expanding L’Oréal’s footprint in India.”
“By bringing together the very best of L’Oréal’s global expertise with Innovist’s high-performing, science-led products and deep-rooted understanding of the Indian consumer, I believe we are poised to shape the future of beauty in this dynamic market.”
Jacques Lebel, Country Manager of L’Oréal India, added: “Innovist has built something truly special here in India, and by joining forces we look forward to bringing L’Oréal even closer to the new generation of digitally-savvy Indian beauty consumers.”
Building the Next Generation of Global Beauty Brands from India
Rohit Chawla, CEO and Co-Founder of Innovist, described the partnership as a natural alignment of vision and values.
“We founded Innovist on the conviction that Indian consumers deserve beauty products built on real science with full transparency on formulation, and that these products could be made in India to global standards.”
“This partnership with L’Oréal brings together a deep alignment in this vision and product philosophy, with the global scientific innovation resources to grow this ambition. Together, we see a significant opportunity to build the next generation of beauty brands.”
Sifat Khurana, Co-Founder and Chief Marketing Officer of Innovist, also highlighted the significance of the agreement.
“We built Innovist for consumers like me, without compromises and shortcuts. That intention has today resulted in a partnership with the world’s largest beauty company, and the beginning of a much larger chapter for Indian beauty.”
Transaction Expected to Close in the Coming Months
The acquisition is expected to be completed within the next few months, subject to regulatory approvals and customary closing conditions. Upon completion, L’Oréal will begin consolidating Innovist’s sales into its financial results. The agreement also includes rights that would allow L’Oréal to acquire the remaining minority shareholdings in the future.
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