Mumbai: French beauty giant L’Oréal has acquired a majority stake in Innovist, one of India’s leading personal care brand houses, marking a significant move in the country’s rapidly expanding beauty and personal care industry. The acquisition strengthens L’Oréal’s position in India and highlights the growing competition among global companies to tap into the booming beauty market.
Innovist will become part of L’Oréal’s Consumer Products Division portfolio, while the company’s founders will continue to retain minority stakes in the business.
L’Oréal’s First Major Indian Acquisition In Over A Decade
The acquisition marks L’Oréal’s first purchase of an Indian company in nearly 13 years. Although financial details of the transaction were not disclosed, the company confirmed that an agreement has been signed.
L’Oréal CEO Nicolas Hieronimus described the investment as a strong reflection of the company’s long-term commitment to India.
“Our investment in this innovative Indian startup is a clear testament to our unwavering commitment to expanding L’Oréal’s footprint in India,” he said.
The company stated that the acquisition aligns with its strategy to strengthen its presence in India’s fast-growing beauty sector while adding locally developed brands tailored specifically for Indian consumers.
Innovist’s Rise In The Indian Beauty Industry
Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist has rapidly emerged as a science-led, digital-first personal care company.
Its portfolio includes popular brands such as Bare Anatomy and Chemist at Play, which focus on skincare and haircare products backed by scientific formulations.
The company’s products are sold through its direct-to-consumer platforms, major e-commerce marketplaces, quick-commerce platforms and offline retail channels across India.
Partnership To Drive Innovation And Growth
Commenting on the acquisition, Nicolas Hieronimus said combining L’Oréal’s global expertise with Innovist’s understanding of Indian consumers would create new opportunities in the beauty industry.
“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,” he said.
Fabrice Megarbane, President of L’Oréal Consumer Products Division, described India as one of the world’s most exciting and rapidly evolving beauty markets and said the partnership would help the company engage more effectively with digitally savvy consumers.
Founders Welcome Strategic Collaboration
Innovist CEO Rohit Chawla said the partnership supports the company’s vision of delivering science-backed beauty products with transparent formulations.
He added that access to L’Oréal’s global research and innovation capabilities would help accelerate product development and growth.
The acquisition comes at a time when India’s beauty and personal care sector is witnessing strong growth, driven by increasing consumer awareness, digital adoption and rising demand for premium personal care products.
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