L’Oréal is strengthening its position in one of the world’s fastest-growing beauty markets through an agreement to acquire a majority stake in Innovist, the Indian digital-first personal care company behind fast-growing brands including Bare Anatomy and Chemist at Play. The deal adds a portfolio of science-led, locally developed brands to L’Oréal’s Consumer Products Division while giving the beauty giant deeper access to India’s increasingly influential, digitally savvy consumer base.
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“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, CEO 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.”
Founded in 2019, Innovist has built its business around transparent formulations, in-house R&D and manufacturing, and a strong direct-to-consumer and e-commerce presence. Under the agreement, Innovist’s founders will remain as minority shareholders and continue to lead the business, preserving the entrepreneurial culture that fueled its rapid growth.
For Innovist, the transaction represents an opportunity to pair its local market knowledge and science-first positioning with L’Oréal’s global scale, research capabilities and distribution network.
“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," said Fabrice Megarbane, president Consumer Products Division, L'Oréal. "For the Consumer Products Division, this is a key milestone, one that reflects both our ambition and our commitment to this extraordinary market."
"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 and 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," said Sifat Khurana, CMO and co-founder. "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."
"At Innovist, scientific rigour has been the culture since day one," said Vimal Bhola, chief R&D scientist and co-founder. "We share this deep-rooted foundation with L'Oréal and a shared vision for the future of beauty powered by science.”
The acquisition signals that global beauty leaders increasingly view India not only as a high-growth sales market but also as a source of brand innovation. Rather than importing global brands alone, L’Oréal is investing in locally created, science-backed businesses that resonate with Indian consumers. The move also reflects the growing strategic importance of digital-first beauty brands, direct-to-consumer expertise and ingredient transparency. With rights to acquire the remaining minority shares in the future, L’Oréal is positioning itself for long-term leadership in a market expected to play an increasingly important role in global beauty growth.
