Personal Care Brand L’Oréal to Acquire Majority Stake in Innovist

L’Oréal announced that it has signed an agreement to acquire a majority stake in Innovist, a house of personal care brands in India. This strategic move marks a major step in L’Oréal’s expansion in India’s fast-growing beauty industry. As part of the agreement, L’Oréal has also secured rights to buy out the minority shareholders in full.

The transaction is expected to be completed in the next few months after regulatory approvals and other customary conditions.

Under the agreement, the Innovist founding team will remain in place, as minority shareholders and will continue to operate and scale the business in collaboration with L’Oréal India. The Innovist brands will be part of L’Oréal’s Consumer Products Division portfolio.

“Our investment in this innovative Indian start-up is a clear testament to our unwavering commitment to expanding L’Oréal’s footprint in India. 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,” said Nicolas Hieronimus, Chief Executive Officer of L’Oréal.

“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.

Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist is one of the fastest growing science-led and digital-first personal care companies in India. Innovist claims to be built on clean formulations and transparent ingredients, supported by its strong in-house research & development and manufacturing capabilities. Innovist’s popular skincare and hair care products are available across its own direct-to-consumer platforms, major e-commerce and quick commerce channels and offline retail partnerships nationwide.

“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.”