L’Oréal to acquire majority stake in Innovist, strengthens India beauty play

French beauty major L’Oréal is strengthening its India strategy with the acquisition of a majority stake in Innovist, the homegrown personal care company behind brands such as Bare Anatomy and Chemist at Play, as global beauty companies intensify their focus on one of the world’s fastest-growing consumer markets.

The transaction, announced on Thursday, marks a significant step in L’Oréal’s effort to deepen its presence in India’s evolving beauty ecosystem, where digital-native brands and ingredient-conscious consumers are reshaping purchasing patterns. Financial details of the acquisition were not disclosed.

Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist has emerged as one of India’s fastest-growing science-led personal care platforms. The company has built its portfolio around clean formulations, ingredient transparency and in-house research and manufacturing capabilities, while distributing products through direct-to-consumer channels, ecommerce marketplaces, quick commerce platforms and offline retail partnerships.

Calling the move a reflection of its long-term ambitions in the country, Nicolas Hieronimus, chief executive officer of L’Oréal, said the investment underlines the company’s commitment to expanding its footprint in India and combining global expertise with local consumer insights.

Why is India becoming central to global beauty growth?

The acquisition underscores a broader shift in India’s beauty market, where multinational companies are increasingly partnering with or acquiring digitally native brands to gain speed, consumer relevance and category expansion opportunities.

Once the transaction closes, Innovist’s portfolio will become part of L’Oréal India’s Consumer Products Division. However, the company’s founders will continue to lead the business and remain invested as minority shareholders—an arrangement designed to preserve entrepreneurial agility while leveraging L’Oréal’s global scale and innovation capabilities.

Fabrice Megarbane, president of L’Oréal’s Consumer Products Division, described India as “one of the most exciting and fast-evolving beauty markets”, while Jacques Lebel, country manager of L’Oréal India, said the partnership would help the group get “closer to digitally-savvy Indian beauty consumers”.

For Innovist, the partnership opens access to international scientific resources and operating scale at a time when India’s beauty and personal care segment is witnessing rapid premiumisation and increasing demand for performance-led products.

Rohit Chawla, CEO and co-founder of Innovist, said the company was founded on the belief that Indian consumers should have access to products built on “real science” and greater formulation transparency.

L’Oréal said it will begin consolidating Innovist’s sales after completion of the deal. The transaction remains subject to regulatory approvals and customary closing conditions.