L’Oréal Group has signed an agreement to acquire a majority stake in Innovist, an Indian house of personal care brands, as the global beauty giant deepens its presence in one of the world’s fastest-growing beauty markets.
Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist has built a portfolio of science-backed personal care brands targeted at Indian consumers.
Following the transaction, Innovist’s brands will become part of L’Oréal India’s Consumer Products Division portfolio. The founding team will retain a minority stake in the company and continue to operate and scale the business in partnership with L’Oréal India.
The acquisition marks a strategic step for L’Oréal as it looks to expand its footprint in India through locally developed brands that cater to evolving consumer preferences.
Commenting on the deal, Nicolas Hieronimus, chief executive officer of L’Oréal, said the investment reflects the company’s long-term commitment to India and its confidence in the market’s growth potential.
“Our investment in this innovative Indian start-up is a clear testament to our unwavering commitment to expanding L'Oréal’s footprint in India,” Hieronimus said, adding that the combination of L’Oréal’s global expertise and Innovist’s understanding of Indian consumers would help shape the future of beauty in the country.
Fabrice Megarbane, president of L’Oréal’s Consumer Products Division, described India as one of the most dynamic beauty markets globally and said the partnership represents a key milestone for the division’s growth ambitions. Meanwhile, Jacques Lebel said the collaboration would help the company connect more closely with digitally savvy Indian consumers.
For Innovist, the deal provides access to L’Oréal’s global research, innovation and distribution capabilities. CEO and co-founder Rohit Chawla said the partnership aligns with the company’s vision of building science-led beauty brands for Indian consumers while leveraging global expertise to scale further.
As part of the agreement, L’Oréal will begin consolidating Innovist’s sales after the transaction closes and has also secured the right to acquire the remaining minority shareholding in the future.
.jpg)
.jpg)
