French beauty giant L’Oréal has signed an agreement to acquire a majority stake in Innovist, marking a significant move to expand its footprint in India’s rapidly growing beauty and personal care market.
Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist has emerged as one of India’s fastest-growing science-led, digital-first personal care companies. The company owns brands including Bare Anatomy and Chemist at Play, which have built a presence through clean formulations, ingredient transparency and research-driven product development.
The acquisition aligns with L’Oréal’s strategy of strengthening its local portfolio with brands designed specifically for Indian consumers. Innovist’s products are sold through direct-to-consumer channels, e-commerce and quick-commerce platforms, as well as offline retail partnerships across the country.
Following the completion of the transaction, Innovist’s brands will become part of L’Oréal’s Consumer Products Division portfolio. The company’s founding team will continue to lead operations and growth as minority shareholders, working alongside L’Oréal India to scale the business further.
As part of the agreement, L’Oréal has also secured the right to acquire the remaining minority shareholding in the future. The transaction is expected to close in the coming months, subject to regulatory approvals and customary closing conditions.
“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, Chief Executive Officer 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.”
“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. For the Consumer Products Division, this is a key milestone, one that reflects both our ambition and our commitment to this extraordinary market,” said Fabrice Megarbane, President Consumer Products Division, L’Oréal. “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 & 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. 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,” said Sifat Khurana, CMO & Co-Founder. “At Innovist, scientific rigour has been the culture since day one. We share this deep-rooted foundation with L’Oréal and a shared vision for the future of beauty powered by science.” added Vimal Bhola, Chief R&D Scientist & Co-Founder.
