As part of the agreement, L’Oreal has also secured the right to buy out the minority shareholders in full.
L’Oreal has signed an agreement to acquire a majority stake in Innovist, a house of personal care brands in India. This strategic move marks a major step in the company’s expansion in India’s fast-growing beauty industry and complements its portfolio with local brands tailored for Indian consumers.
Under the agreement, the Innovist founding team will remain in place, as minority shareholders, and will continue to operate and scale the business in collaboration with L’Oréal India. The Innovist brands will be part of L’Oreal’s consumer products division portfolio.
“Our investment in this innovative Indian start-up is a clear testament to our unwavering commitment to expanding L’Oreal’s footprint in India. By bringing together the very best of L’Oreal’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,” stated Nicolas Hieronimus, Chief Executive Officer, L’Oreal.
L’Oreal will start consolidating Innovist sales from the date of the closing of the transaction. As part of the agreement, L’Oreal has also secured the right to buy out the minority shareholders in full. The transaction is expected to be completed in the next few months after regulatory approvals and other customary conditions.
“We founded Innovist on the conviction that Indian consumers deserve beauty products built on real science with full transparency on formulation, and that these products could be made in India to global standards. This partnership with L’Oreal brings together a deep alignment in this vision and product philosophy, with the global scientific innovation resources to grow this ambition. Together, we see a significant opportunity to build the next generation of beauty brands,” stated Rohit Chawla, CEO and Founder, Innovist.
