CCI approves L’Oréal India’s acquisition of 100% stake in Innovist parent Onesto Labs
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The Competition Commission of India (CCI) has approved L’Oréal India Private Limited’s acquisition of 100% shareholding in Onesto Labs Private Limited, the parent company of Indian personal-care brand house Innovist.
The regulatory approval comes after L’Oréal first announced the transaction on June 18, 2026, when it said it had signed an agreement to acquire a majority stake in Innovist. The deal marks L’Oréal’s expansion of its presence in India’s fast-growing beauty and personal-care market.
According to the CCI, the proposed combination involves the acquisition of the entire shareholding of Onesto Labs by L’Oréal India. The regulator said the detailed order on the transaction would follow.
Innovist brands to join L’Oréal portfolio
Innovist, founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, operates digital-first personal-care brands including Bare Anatomy and Chemist at Play. L’Oréal had described Innovist as a science-led company focused on clean formulations, transparent ingredients and products tailored to Indian consumers.
Under the agreement announced in June, Innovist’s founding team will continue with the business as minority shareholders and operate it in collaboration with L’Oréal India. The brands will become part of L’Oréal’s Consumer Products Division.
L’Oréal CEO Nicolas Hieronimus said the investment was a “clear testament” to the company’s commitment to expanding its 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,” Hieronimus said.
L’Oréal sees India as key growth market
Fabrice Megarbane, president of L’Oréal’s Consumer Products Division, described India as “one of the most exciting and fast-evolving beauty markets in the world”.
Jacques Lebel, country manager of L’Oréal India, said the partnership would bring L’Oréal “even closer to the new generation of digitally-savvy Indian beauty consumers”.
Innovist founder and CEO Rohit Chawla said the company was built around the belief that Indian consumers deserved beauty products based on “real science with full transparency on formulation”.
“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,” Chawla said.
L’Oréal had also said it secured the rights to buy out the minority shareholders in full, while sales from Innovist would be consolidated from the closing date. The transaction is subject to customary conditions and regulatory approvals.
The CCI approval dated September 22, 2026 clears the competition-regulatory leg of the transaction.