Industry News

L’Oréal To Acquire Majority Stake in Innovist

The move marks a major step in L’Oréal’s expansion in India’s fast-growing beauty industry.

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By: Lianna Albrizio

Associate Editor

L’Oréal has signed an agreement to acquire a majority stake in Innovist, a leading house of personal care brands in India.

Under the agreement, the Innovist founding team will remain in place, as minority shareholders, and will continue to operate and scale the business in collaboration with L’Oréal India. The Innovist brands will be part of L’Oréal’s Consumer Products Division portfolio.

The move marks a major step in L’Oréal’s expansion in India’s fast-growing beauty industry and complements its portfolio with local brands tailored for Indian consumers, officials said.

Commitment to Expanding L’Oréal’s Indian Footprint

“Our investment in this innovative Indian start-up is a clear testament to our unwavering commitment to expanding L’Oréal’s footprint in India,” said Nicolas Hieronimus, CEO of L’Oréal. “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.”

Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist is among the fastest growing science-led and digital-first personal care companies in India. Behind rising popular brands such as Bare Anatomy and Chemist at Play, Innovist is built on a commitment to clean formulations and transparent ingredients, supported by its strong in-house R&D and manufacturing capabilities. Innovist’s popular skincare and hair care products are available across its own direct-to-consumer platforms, major e-commerce and quick commerce channels, and offline retail partnerships nationwide.

“India is one of the most exciting and fast-evolving beauty markets in the world, and this partnership places us right at the heart of that momentum,” said Fabrice Megarbane, president, consumer products division, L’Oréal. “For the Consumer Products Division, this is a key milestone, one that reflects both our ambition and our commitment to this extraordinary market.”

L’Oréal will start consolidating Innovist sales from the date of the closing of the transaction. As part of the agreement, L’Oréal has also secured rights to buy out the minority shareholders in full.

The transaction is expected to be completed in the next few months.

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