L’Oréal Deepens India Bet with Majority Stake Acquisition in Innovist

French beauty giant, L’Oréal has signed an agreement to acquire a majority stake in Indian personal care company Innovist, marking a significant expansion move by the global beauty company as it sharpens focus on India’s rapidly growing beauty market. The companies, however, did not disclose financial details of the transaction.

Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist operates digital-first personal care brands including Bare Anatomy and Chemist at Play, and has built its business around science-led skincare and haircare products backed by in-house research and manufacturing capabilities.

The company said the investment strengthens L’Oréal’s long-term India strategy and will help accelerate growth in one of the world’s fastest-growing beauty markets. Commenting on the deal, L’Oréal CEO Nicolas Hieronimus said the investment is “a clear testament to our unwavering commitment to expanding L’Oréal’s footprint in India.”

Deal Structure and Strategic Fit

Under the agreement, Innovist’s founding team will remain minority shareholders and continue operating the business in partnership with L’Oréal India after the transaction closes, ensuring continuity in leadership and preserving the company’s entrepreneurial approach.

The acquisition will also bring Innovist’s portfolio under L’Oréal’s Consumer Products Division. According to the company, Innovist’s digital-first brands complement L’Oréal’s existing portfolio by adding high-performing science-led products designed specifically for Indian consumers.

Highlighting the importance of the Indian market, Fabrice Megarbane said India is “one of the most exciting and fast-evolving beauty markets in the world,” adding that the partnership marks a key milestone for the company.

Founders to Continue Running Business

The transaction is expected to be completed in the coming months after regulatory approvals and other customary conditions. L’Oréal said it has also secured rights to fully acquire the remaining minority stake in the future.

Speaking on the partnership, Jacques Lebel said Innovist has built “something truly special” in India and the partnership will help L’Oréal connect more closely with digitally-savvy beauty consumers.

From Innovist’s side, CEO and co-founder Rohit Chawla said the company was founded on the belief that Indian consumers deserve science-backed products made locally to global standards, adding “Together, we see a significant opportunity to build the next generation of beauty brands.”

Co-founder Sifat Khurana said the deal marks “the beginning of a much larger chapter for Indian beauty,” while co-founder Vimal Bhola said both companies share “a shared vision for the future of beauty powered by science.”