L'Oréal Deepens India Bet with Majority Stake in Innovist

L'Oréal is strengthening its presence in India's beauty market with the acquisition of a majority stake in Innovist, a fast-growing science-led personal care company known for brands such as Bare Anatomy and Chemist at Play.

The French beauty giant said the deal aligns with its strategy to deepen its footprint in India's rapidly expanding beauty and personal care sector while adding homegrown brands developed specifically for Indian consumers to its portfolio.

Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist has emerged as one of India's fastest-growing digital-first personal care companies. The company has built a strong presence through science-backed, clean-label skincare and haircare brands, supported by in-house research and development as well as manufacturing capabilities. Its products are sold through its direct-to-consumer platforms, leading e-commerce and quick commerce channels, and an expanding offline retail network across the country.

As part of the agreement, the founding team will continue to lead Innovist as minority shareholders, working alongside L'Oréal India to drive the company's next phase of growth. Innovist's portfolio will be integrated into L'Oréal's Consumer Products Division.

“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. “By bringing together the very best of L'Oréal'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.”

“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," said Fabrice Megarbane, President Consumer Products Division, L'Oréal.

"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," added Jacques Lebel, Country Manager of L'Oréal India.

"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,” said Rohit Chawla, CEO & Founder of Innovist. “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."

“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,” said Sifat Khurana, CMO & Co-Founder. “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 & Co-Founder.