L’Oréal Acquires Majority Stake in Innovist in India’s Biggest D2C Beauty Deal
French beauty giant L’Oréal has signed an agreement to acquire a majority stake in Innovist, a leading Indian digital-first personal care company, in a deal that marks the largest acquisition of a direct-to-consumer (D2C) beauty brand in the country .
📊 The Deal at a Glance
💰 A Windfall for Founders and Early Investors
The deal has delivered exceptional returns for Innovist’s founders and early backers :
This marks Chawla’s second major exit in the personal care space, having previously co-founded The Man Company, which was acquired by Emami in 2024 .
🌍 Why This Deal Matters
Strategic Expansion for L’Oréal
L’Oréal CEO Nicolas Hieronimus called the investment “a clear testament to our unwavering commitment to expanding L’Oréal’s footprint in India” . The acquisition comes as L’Oréal India seeks to revive growth after its revenue rose just 5% to ₹5,979 crore in FY25, down from 14% growth the previous year .
Fabrice Megarbane, President of L’Oréal’s Consumer Products Division, described the deal as “a key milestone” reflecting “both our ambition and our commitment to this extraordinary market” .
Validation for India’s D2C Ecosystem
The acquisition signals a major shift in India’s beauty industry, where multinational companies are increasingly acquiring digital-first brands rather than building them from scratch . Rising online beauty spending, quick-commerce growth, and demand for ingredient-led products have made such startups attractive targets .
Jacques Lebel, Country Manager of L’Oréal India, noted that the partnership will bring L’Oréal “even closer to the new generation of digitally-savvy Indian beauty consumers” .
🏢 About Innovist
Founded in 2019 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist operates science-led, digital-first personal care brands including Bare Anatomy and Chemist at Play . The company:
- Reported ₹301 crore revenue and ₹12.5 crore net profit in FY25
- Sells across D2C platforms, e-commerce, quick-commerce, and offline retail
- Has strong in-house R&D and manufacturing capabilities
“We founded Innovist on the conviction that Indian consumers deserve beauty products built on real science with full transparency on formulation.”
— Rohit Chawla, CEO & Founder, Innovist
🔮 What’s Next
Under the agreement, Innovist’s founders will continue to lead the business and retain a minority stake, while the brands will be integrated into L’Oréal’s Consumer Products Division portfolio . L’Oréal has also secured rights to acquire the remaining stake at a later date . The transaction is expected to close in the coming months after regulatory approvals .
For more updates on India’s startup ecosystem, M&A deals, and consumer innovation, keep it locked on StartupPoint.in.
#Loreal #Innovist #D2CBeauty #IndianStartups #ConsumerTech #InnovationEconomy #TechInIndia #GlobalPartnerships
Summerize
💄 L’Oréal Acquires Majority Stake in Innovist
Global beauty giant L’Oréal has announced the acquisition of a majority stake in Indian startup Innovist, strengthening confidence in India’s fast-growing D2C beauty ecosystem.
💡 Key implications of this deal:
- Expands L’Oréal’s footprint in India’s consumer beauty market
- Validates the rise of direct-to-consumer brands as global acquisition targets
- Provides Innovist with resources to scale product innovation and international market access
📊 This acquisition highlights growing investor and corporate confidence in India’s consumer startup ecosystem, where beauty and personal care are emerging as high-growth sectors alongside fintech, AI, and deeptech.
🚀 With L’Oréal’s backing, Innovist is poised to accelerate its journey from a promising D2C brand to a globally competitive player, reinforcing India’s reputation as a hub for innovation-driven consumer startups.
