L'Oreal Inks Deal to Acquire Majority Stake in D2C Firm Innovist
French beauty major, L’Oréal has announced that it has entered into a deal to obtain a controlling interest in Innovist, an Indian direct-to-consumer (D2C) personal care firm.
This strategic decision represents a significant advancement in L’Oréal’s growth within India’s rapidly expanding beauty sector and enhances its lineup with indigenous brands designed for Indian customers.
Also Read: Novartis brings in its Advanced-Prostrate-Cancer Drug to India
Established in 2019 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist is among the rapidly expanding science-driven and digitally focused personal care firms in India, as indicated by L’Oréal during the deal announcement.
According to the agreement, the founding team of Innovist will stay as minority shareholders and will keep managing and expanding the business in partnership with L’Oréal India. The Innovist brands will belong to the portfolio of L’Oréal’s Consumer Products Division.
L’Oréal will begin consolidating Innovist's sales from the transaction's closing date, which is anticipated in the upcoming months following the acquisition of regulatory and other standard approvals. Under the terms of the agreement, L'Oréal has obtained the option to completely acquire the minority shareholders.
“Our investment in this innovative Indian start-up is a clear testament to our unwavering commitment to expanding L'Oréal’s footprint in India," says 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,” he adds.
The company mentioned that, alongside brands like Bare Anatomy and Chemist at Play, Innovist is founded on pure formulations and clear ingredients, backed by its internal research, development, and manufacturing abilities.
“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," says Fabrice Megarbane, President, Consumer Products Division, L'Oréal.
Also Read: LG Expects India to Remain its Largest Global AC Market
"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.
Rohit Chawla, Founder and CEO of Innovist, stated that the company was established on the belief that Indian consumers merit beauty products rooted in genuine science, with complete transparency regarding formulations, and that these items could be produced in India to meet global standards.
Also Read: Goyal, Nice Mayor Talk Expanding India-France Ties in Innovation
“This partnership with L'Oréal brings together a deep alignment in this vision and product philosophy, along with the global scientific innovation resources to grow this ambition. Together, we see a significant opportunity to build the next generation of beauty brands," Chawla adds.