L’Oreal To Acquire Majority Stake in India’s Innovist To Strengthen Beauty Market Presence

New Delhi: French cosmetics major L’Oreal on Thursday said it will acquire a majority stake in Innovist, a leading digital-first Indian personal care company, expanding its presence in one of the world’s fastest-growing beauty markets.

Though the company did not disclose financial details of the transaction, it said an agreement has been signed in this regard.

“This strategic move marks a major step in L’Oreal’s expansion in India’s fast-growing beauty industry and complements its portfolio with local brands tailored for Indian consumers,” a statement said.

Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist is a science-led, digital-first personal care company with brands such as Bare Anatomy and Chemist at Play in its portfolio.

Innovist’s 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.

Under the agreement, the Innovist founding team will continue to run the business and retain minority shareholding in the company. The brands will become part of L’Oreal’s Consumer Products Division portfolio.

Commenting on the development, L’Oreal CEO Nicolas Hieronimus said:”By bringing together the very best of L’Oreal’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.” L’Oreal Consumer Products Division President Fabrice Megarbane described India as one of the most exciting and fast-evolving beauty markets globally and said the partnership would help the company deepen its engagement with digitally savvy consumers.

Innovist CEO Rohit Chawla said the partnership aligns with the company’s vision of offering science-backed beauty products with transparent formulations and would provide access to L’Oreal’s global scientific innovation capabilities.

The transaction is expected to be completed in the coming months, subject to regulatory approvals and customary closing conditions.

L’Oreal said it will begin consolidating Innovist’s sales from the date of completion of the deal. As part of the agreement, L’Oreal has also secured rights to buy out the minority shareholders in full.

Earlier this year, in an earnings call Nicolas had said, L’Oreal India contributes roughly one per cent to the company’s total turnover and he expected better performance in 2026.

L’Oreal India, a wholly-owned subsidiary of L’Oreal SA is operating since 1994. L’Oreal India operates with 26 brands, such as L’Oreal Paris, Garnier, Maybelline New York, and NYX Professional Makeup, which are mass market products.

In hair and beauty salons channels, it has L’Oreal Professionnel, Matrix, Kerastase, Redken and in selective distribution – Kiehl’s, Lancôme, Yves Saint Laurent.

It sells fragrances via L’Oreal International Distribution with brands as Ralph Lauren, Armani, Prada, Valentino, Diesel, Viktor & Rolf, Maison Margiela, Mugler, Azzaro, Guy Laroche.

Besides, it has two manufacturing facilities in Chakan (Maharashtra) and Baddi (Himachal Pradesh), and Research and Innovation facilities in Mumbai and Bengaluru.

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