L'Oreal acquires majority stake in India-based beauty brand Innovist, deepens India expansion
Clichy, June 18
French beauty major L'Oreal Groupe on Thursday announced that it has signed an agreement to acquire a majority stake in Indian digital-first personal care brand Innovist, marking a significant expansion of its presence in one of the world's fastest-growing beauty markets.
Announcing the deal, L'Oreal said the acquisition reinforces its long-term commitment to India and will help expand its portfolio of science-led, locally relevant beauty brands.
"This strategic move marks a major step in L'Oreal'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.
L'Oreal described the transaction as a "Strategic expansion in India" that "reinforces L'Oreal's commitment to India and accelerates its strategy to scale and lead in one of the world's fastest-growing beauty markets."
Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist owns digital-first brands including Bare Anatomy and Chemist at Play. The company said its products are built on "science-led formulations" and are sold through direct-to-consumer platforms, major e-commerce channels and offline retail partnerships.
Under the agreement, Innovist's founders will continue to lead the business and remain shareholders. L'Oreal said the company will become part of its Consumer Products Division portfolio.
Commenting on the acquisition, Nicolas Hieronimus, Chief Executive Officer of L'Oreal, said, "Our investment in this innovative Indian start-up is a clear testament to our unwavering commitment to expanding L'Oreal's footprint in India."
"By bringing together the very best of L'Oreal'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," he added.
Jacques Lebel, Country Manager of L'Oreal India, said India is "one of the most exciting and fast-evolving beauty markets in the world" and that the partnership places the company "right at the heart of that momentum."
The announcement comes a day after Union Commerce and Industry Minister Piyush Goyal met Hieronimus on the sidelines of Viva Technology 2026 in Paris. Sharing details of the meeting on social media, Goyal had said discussions focused on "India's emergence as a preferred destination for innovation, manufacturing, and investment."
The minister had also said both sides "explored opportunities for collaboration in skill development and beauty-tech innovation under the Make in India initiative."
Innovist co-founder and CEO Rohit Chawla said the partnership reflects confidence in Indian consumer brands and their global potential.
"We founded Innovist on the conviction that Indian consumers deserve beauty products built on real science with full transparency on formulation," Chawla said. "Together, we see a significant opportunity to build the next generation of beauty brands."
— ANI
Reader Comments
Finally some positive economic news. After all the border tensions and inflation talk, seeing a global giant like L'Oreal invest in an Indian startup is refreshing. Shows that Make in India is actually working. More international companies should look at our domestic brands - we have talent and innovation!
As someone who uses Chemist at Play products, I'm a bit worried. L'Oreal is a huge MNC and sometimes they impose their global strategies without understanding local needs. I really hope the founders continue to lead and maintain the Indian touch. Sab kuch global ho jaata hai eventually... 😕
This is a big deal for the Indian beauty industry. L'Oreal's global R&D combined with Innovist's digital-first approach could be game-changing. But I'm curious about the valuation - these Indian D2C brands are getting acquired at high valuations these days. Hope the founders got a good deal for their hard work. India shining! 🇮🇳
Interesting timing with the minister meeting the CEO in Paris. But honestly, while this is good for the startup ecosystem, I worry about Indian brands losing their identity. Bare Anatomy was doing well with domestic production. Now will they start manufacturing abroad? Make in India should mean more local factories, not just acquisitions. Just saying.
As a consumer who loves Indian beauty brands for being transparent about ingredients, I hope this acquisition doesn't mean we'll start seeing those long chemical names that nobody understands. Innovist's strength was their 'science-led' but simple approach. L'Oreal should learn from them, not the other way around! 🙏
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