French cosmetics giant L'Oréal has agreed to acquire a majority stake in India's Innovist, a fast-growing science-led and digital-first personal care company. The deal, announced June 18, 2026, adds local D2C brands including Bare Anatomy and Chemist at Play to L'Oréal's portfolio, signaling its push to capture more share in one of the world's fastest-growing beauty markets. For overseas buyers and distributors, this acquisition highlights the rising value of India-based indie brands with clean formulations and digital-native distribution models.
Deal structure and brands
L'Oréal will acquire a majority stake in Innovist, with rights to buy out minority shareholders in full. Financial terms were not disclosed, but external reports value Innovist at approximately ₹4,000 crore (US$350–450 million). The portfolio includes D2C haircare brand Bare Anatomy, skincare line Chemist at Play, Sunscoop, and Vinci Botanicals. Innovist was founded in 2019 (incorporated as Onesto Labs in 2018) and has backing from investors including Amazon and Accel.
Strategic rationale for L'Oréal
CEO Nicolas Hieronimus stated, "Our investment in this innovative Indian startup is a clear testament to our unwavering commitment to expanding L'Oréal's footprint in India." Earlier this year, Hieronimus noted the company was "not meeting expectations" in India, where it generates about 1% of turnover. India's beauty market is driven by young, affluent, social media-savvy shoppers with rising disposable income. L'Oréal recently appointed a new CEO to boost local performance.
Regulatory timeline and post-deal operations
The deal is expected to close within the next few months, subject to regulatory approvals. L'Oréal said the founders and minority shareholders will continue to operate the business in collaboration with L'Oréal India. This structure allows L'Oréal to leverage Innovist's existing digital-first and clean-formulation positioning while integrating into its broader supply chain.
What buyers should watch
For overseas importers and distributors, this acquisition signals growing M&A interest in India's indie beauty brands with strong D2C channels and clean ingredient stories. Brands like Bare Anatomy and Chemist at Play may eventually expand distribution beyond India through L'Oréal's global network. Buyers should monitor how L'Oréal integrates these brands into its supply chain and whether new export opportunities emerge for raw materials, packaging, or finished goods tied to these formulations.
Source: Read the original report | Published: June 18, 2026