French cosmetic giant L’Oréal announced on Thursday that it has signed an agreement to acquire a majority stake in Innovist, a personal care brand in India.
This strategic 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, the company said in a statement.
While the financial details of the deal are not disclosed, reports suggest that the proposed transaction would value Innovist between $350 million to $450 million. The acquisition by L’Oréal also comes at a time when niche Indian beauty and personal care brands continue to see growing interest from global heavyweights.
In 2025, Hindustan Unilever (HUL) acquired 90.5% of Minimalist for Rs 2,955 crore while US-based Estee Lauder Companies most recently acquired a majority stake in skincare brand Forest Essentials, taking full ownership of the firm it had first invested in 2008.
L’Oréal will start consolidating Innovist sales from the date of the closing of the transaction. As part of the agreement, the company has also secured rights to buy out the minority shareholders in full.
The transaction is expected to be completed in the next few months after regulatory approvals and other customary conditions.
Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist houses brands such as Bare Anatomy and Chemist at Play.
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.
“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, Chief Executive Officer of L'Oréal. Fabrice Megarbane, President Consumer Products Division, L'Oréal said that India is one of the most exciting and fast-evolving beauty markets in the world, and this partnership places them right at the heart of that momentum.
Rohit Chawla, CEO & Founder of Innovist, said, “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."