L’Oréal announced that it has signed an agreement to acquire a majority stake in Innovist, a digital-first personal care house of brands in India.
The transaction strengthens L’Oréal’s presence in India’s fast-growing beauty market and adds local science-led personal care brands tailored for Indian consumers to its portfolio.
Founded in 2019 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist is known for brands including Bare Anatomy and Chemist at Play. The company focuses on clean formulations, transparent ingredients, and science-led skincare and hair care products.
Innovist sells products through its direct-to-consumer platforms, major e-commerce and quick commerce channels, and offline retail partnerships across India.
Under the agreement, Innovist’s founding team will remain in place as minority shareholders and continue operating and scaling the business in collaboration with L’Oréal India.
Innovist’s brands will become part of L’Oréal’s Consumer Products Division portfolio. L’Oréal will start consolidating Innovist sales from the closing date 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, subject to regulatory approvals and customary closing conditions.
KEY QUOTES:
“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.”
Nicolas Hieronimus, Chief Executive Officer of L’Oréal
“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. For the Consumer Products Division, this is a key milestone, one that reflects both our ambition and our commitment to this extraordinary market. 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.”
Fabrice Megarbane, President Consumer Products Division at L’Oréal, and Jacques Lebel, Country Manager of L’Oréal India
“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.”
Rohit Chawla, CEO and Founder of Innovist
“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. At Innovist, scientific rigour has been the culture since day one. We share this deep-rooted foundation with L’Oréal and a shared vision for the future of beauty powered by science.”
Sifat Khurana, CMO and Co-Founder of Innovist, and Vimal Bhola, Chief R&D Scientist and Co-Founder of Innovist
