French beauty giant L’Oréal has acquired a majority stake in Indian personal care company Innovist, marking a strategic move in the competitive Indian beauty market. The deal size was not disclosed, and the transaction is expected to close in the coming months, according to livemint.com. Innovist will join L’Oréal’s Consumer Products Division portfolio as part of the agreement.
Under the terms, Innovist’s founders Rohit Chawla, Sifat Khurana, and Vimal Bhola will retain minority stakes and continue to manage the business alongside L’Oréal India. The deal also grants L’Oréal the option to acquire the remaining minority shares in the future. This acquisition was announced on Thursday and is subject to regulatory approvals, as reported by livemint.com.
The acquisition underscores intensifying competition among global beauty companies in India’s fast-growing digital-first personal care segment. L’Oréal’s move follows similar investments by other multinational firms seeking to expand their presence in the country’s beauty market. The Economic Times noted that this deal highlights the increasing focus on high-growth Indian brands as global giants seek to capture market share.
The transaction is anticipated to finalize within the next few months, pending regulatory clearance, according to livemint.com. Innovist’s founders will continue to lead the company, ensuring continuity as L’Oréal integrates the brand into its portfolio.