Global beauty leader L’Oréal has signed an agreement to acquire a majority stake in Indian direct-to-consumer (D2C) personal care company Innovist, reinforcing its long-term commitment to one of the world’s fastest-growing beauty markets. While financial terms of the transaction remain undisclosed, the acquisition is expected to close in the coming months, subject to regulatory approvals.
Founded in 2019 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist has rapidly emerged as a science-led, digital-first beauty company, with brands including Bare Anatomy and Chemist at Play. The founding team will continue to lead the business as minority shareholders, working alongside L’Oréal India to accelerate growth while preserving Innovist’s entrepreneurial vision.
The acquisition strengthens L’Oréal’s Consumer Products Division by adding locally developed, innovation-driven brands tailored to Indian consumers. Company executives said the partnership combines L’Oréal’s global research capabilities with Innovist’s expertise in science-backed formulations, transparent ingredients, and in-house manufacturing.
L’Oréal CEO Nicolas Hieronimus described the investment as a significant step in expanding the company’s footprint in India, while Consumer Products Division President Fabrice Megarbane highlighted India’s rapidly evolving beauty landscape as a key growth opportunity. Innovist CEO Rohit Chawla said the partnership will enable the company to scale its mission of building globally competitive beauty brands developed in India through scientific innovation and consumer-focused product development.
