India Business Journal - L’Oreal snaps up Innovist in the largest deal in Indian beauty care start-up sector

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L’Oreal snaps up Innovist in the largest deal in Indian beauty care start-up sector

IBJ Bureau
Jun 19, 2026

L’Oreal will acquire a majority stake in India’s Innovist, as the French cosmetics company looks to step up its share ‌of one of the world’s fastest-growing markets.

The deal, which includes rights to buy out the minority shareholders in full, adds local brands – including haircare range Bare Anatomy andChemist at Play skincare – to its portfolio.

Financial details have not been disclosed. However, sources familiar with the deal reveal that the acquisition is worth over Rs 4,000 crore.

The acquisition makes it the largest one in the Indian beauty and personal-care start-up sector.

L’Oreal’s purchase of Innovist marks its first purchase of ⁠an Indian company in nearly 13 years, since it had bought Mumbai-based Cheryl’s Cosmeceuticals in September 2013.

“Our investment in this innovative Indian start-up is a clear testament to our unwavering commitment to expanding L’Oreal’s footprint in India,” L’Oreal CEO Nicolas Hieronimus has said in a statement.

Mr Hieronimus had said earlier this year that the company was “not meeting expectations” in India, which is seeing rapid growth, driven by young, affluent, social media-savvy shoppers with rising disposable income.

The company, which makes about 1 per cent ‌of ⁠its turnover in India, had high single-digit growth in the country last year, but “did not gain a lot of market share, if any”, Mr Hieronimus had told investors after reporting annual results.