L’Oréal has signed an agreement to acquire a majority stake in Innovist, a leading digital-first Indian house of personal care brands. Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist is behind popular brands such as Bare Anatomy and Chemist at Play, with products available through direct-to-consumer platforms, major e-commerce and quick commerce channels, and offline retail partnerships. The founding team will remain as minority shareholders and continue to operate the business in collaboration with L’Oréal India, with the brands joining L’Oréal’s Consumer Products Division. L’Oréal will begin consolidating Innovist sales upon closing and has secured rights to buy out the remaining minority shareholders in full. The transaction is expected to close in the next few months, subject to regulatory approvals and customary conditions.
LOréal S.A.L'Oréal acquires majority stake in Innovist, expanding its portfolio and market presence in India.