Cosmetics major L’Oréal has signed a definitive agreement to acquire a majority stake in Innovist, an Indian digital-first personal care house of brands. This acquisition marks a significant expansion for the French beauty giant within the domestic personal care market, allowing it to add localized, science-led formulations to its existing mass-market portfolio.
Following the completion of the transaction, the current Innovist brands will be integrated into L’Oréal’s Consumer Products Division. The financial details of the deal remain undisclosed. However, under the terms of the agreement, L’Oréal will begin consolidating Innovist’s sales from the closing date of the transaction.
The global beauty corporation has also secured the rights to completely buy out the remaining minority shareholders in the future. The transaction is expected to close within the next few months, subject to customary regulatory approvals and closing conditions.
Market Expansion
The Indian beauty and personal care market has witnessed a sharp shift toward active ingredients and clean formulations over the last few years. By aligning with Innovist, L’Oréal aims to deepen its penetration among younger, digitally native Indian consumers who prioritize ingredient transparency.
"Our investment in this innovative Indian start-up is a clear testament to our unwavering commitment to expanding L’Oréal’s footprint in India," Nicolas Hieronimus, CEO of L’Oréal, stated. He added that by combining L’Oréal’s global expertise with Innovist’s science-led products and local consumer insights, the partnership is positioned to shape the future of the beauty segment in the country.
The acquisition reflects a broader trend of multi-national corporations buying into homegrown direct-to-consumer brands to capture regional market share. India remains an essential growth engine for international consumer goods firms.
"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," noted Fabrice Megarbane, President of the Consumer Products Division at L’Oréal.
Daily Operations
Despite the shift in majority ownership, the founding team of Innovist will remain intact. The founders will retain minority shares in the entity and continue to manage day-to-day operations, scaling the business in coordination with L’Oréal India. This structure ensures that the operational agility of the startup is preserved while leveraging the supply chain, distribution network, and research capabilities of the parent firm.
The startup was established on the principle that local consumers require data-backed, transparent personal care options. "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," Rohit Chawla, CEO and Founder of Innovist, stated officially. He further noted that the partnership brings a deep alignment in vision and provides the global scientific innovation resources necessary to build the next generation of beauty brands.
Maintaining the original corporate culture and product rigor will be critical as the brand scales across offline channels. "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," added Vimal Bhola, Chief R&D Scientist and Co-Founder of the company.
Larger Picture
For the homegrown beauty ecosystem, this exit serves as a validation of institutional capital entering early-stage consumer research in India. Startup brands have historically struggled with high customer acquisition costs on digital platforms, making partnerships with global distribution powerhouses an attractive scaling route.
"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," Sifat Khurana, Chief Marketing Officer and Co-Founder of Innovist, stated.
L’Oréal plans to utilize its extensive multi-channel network to increase the visibility of Innovist’s current portfolio. "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," Jacques Lebel, Country Manager of L’Oréal India, stated regarding the domestic operational integration.
About Innovist
Founded in 2019 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist operates as a science-led, digital-first personal care house of brands in India. The company owns and operates popular consumer brands including Bare Anatomy, which focuses on personalized hair care solutions, and Chemist at Play, a brand centered on active ingredient-based skincare.
Innovist operates its own in-house research and development laboratory alongside dedicated manufacturing facilities, allowing for strict quality control and clean formulation pipelines. The company distributes its products across a multi-channel network, including its proprietary direct-to-consumer websites, major third-party e-commerce platforms, rapid-delivery quick commerce channels, and retail chain partnerships throughout India.
