L’Oréal to acquire majority stake in Indian skincare brand Innovist

French cosmetics and beauty major L’Oréal announced on June 18 that it has entered into an agreement to acquire a majority stake in Innovist, a fast-growing Indian personal care brand house. The move strengthens L’Oréal’s presence in India’s rapidly expanding beauty and personal care market and enhances its portfolio with locally developed brands designed for Indian consumers.The deal follows earlier reporting that L’Oréal was in advanced talks to acquire a controlling stake in Innovist, a direct-to-consumer (D2C) startup known for brands such as Bare Anatomy, Chemist at Play, Sunscoop, and Vinci Botanicals. The transaction is estimated to value Innovist between $350 million and $450 million, making it one of the significant consumer startup acquisitions in India in recent years. SBI May Lead $1 Billion Funding For Sun Pharma’s $12 Billion Organon Acquisition However, the final valuation was not disclosed in the official announcement.Under the agreement, Innovist’s founding team will continue to stay involved in the company as minority shareholders and will manage operations in partnership with L’Oréal India. Innovist’s brands will be integrated into L’Oréal’s Consumer Products Division, expanding its offerings in science-led and digital-first personal care products.Senior leadership at L’Oréal highlighted India’s importance as a key growth market. The CEO of L’Oréal described the investment as a reflection of the company’s commitment to strengthening its footprint in India by combining global expertise with Innovist’s deep understanding of local consumer needs. Other executives also emphasised that the partnership aligns with L’Oréal’s ambition to capture India’s fast-evolving digital beauty market.Innovist’s founder noted that the company was built on the belief that Indian consumers deserve science-backed, transparent beauty products made to global standards. He added that the partnership with L’Oréal would help scale this vision using global research capabilities.Following the completion of regulatory approvals, L’Oréal will begin consolidating Innovist’s financials. The agreement also includes an option for L’Oréal to fully acquire minority shareholders in the future.Founded in 2019, Innovist has emerged as a leading science-driven personal care company in India with strong R&D and manufacturing capabilities. Its products are distributed through D2C channels, e-commerce platforms, quick commerce networks, and offline retail stores across the country.

Under the agreement, Innovist’s founders Rohit Chawla, Sifat Khurana and Vimal Bhola will retain minority stakes and continue to run the business alongside L’Oréal India

The deal, which includes rights to buy out the minority shareholders in full, adds local brands including haircare range Bare Anatomy and Chemist at Play skincare to its portfolio.

The ​deal is set ⁠to close ‌in the next few months ‌post regulatory approvals, ​the company says