L’Oréal to Acquire Majority Stake in Innovist

L’Oréal has signed an agreement to acquire a majority stake in Indian personal care company Innovist, expanding its presence in one of the world’s fastest-growing beauty markets. Innovist is the company behind haircare and skincare brands Bare Anatomy, Sunscoop, and Chemist at Play.

Financial terms of the transaction were not disclosed. L’Oréal said it has secured the right to acquire the remaining minority stake in the future and will begin consolidating Innovist’s sales once the transaction closes.

Founded in 2019 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist develops and manufactures its products in-house through its own research, development, and manufacturing operations. Its brands are sold across India through brand-owned websites, major e-commerce platforms, rapid-delivery services, and retail partners. Outside India, selected Bare Anatomy, Sunscoop, and Chemist at Play products are available through Amazon in the UK and Walmart in the US.

“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 Chawla, chief executive officer and co-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.”

Innovist’s founders will remain with the business as minority shareholders and continue to operate and scale the company in collaboration with L’Oréal India. Following the completion of the deal, Innovist’s brands will join 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,” 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.”