L’Oréal in Talks to Acquire Innovist in $350-$450 Million Deal: Report
Global beauty giant L’Oréal is reportedly in advanced discussions to acquire a majority stake in Indian beauty and personal care startup Innovist. The deal is expected to value the Gurugram-based company between $350 million and $450 million, according to multiple media reports.
If finalised, this would mark a significant move by L’Oréal to deepen its presence in India’s fast-growing direct-to-consumer (D2C) beauty segment.
L’Oréal Eyes Strong Entry into India’s D2C Beauty Market
The potential acquisition reflects L’Oréal’s growing interest in India’s booming beauty and personal care market. Innovist operates popular brands such as Bare Anatomy, Chemist at Play, and Sunscoop, which are known for science-led and ingredient-focused products.
India’s D2C beauty space has seen strong demand in recent years, driven by online-first brands and rising consumer awareness. Innovist has positioned itself as a fast-growing player in this segment, competing with brands like Minimalist and Mamaearth.
For L’Oréal, acquiring Innovist could offer direct access to a younger, digitally native customer base in India.
Innovist’s Growth Journey and Financial Performance
Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist has scaled rapidly in recent years. The company follows a science-backed approach and focuses on in-house research and product development.
Here is a snapshot of Innovist’s growth:
| Key Metric | Details |
|---|---|
| Founded | 2018 |
| Founders | Rohit Chawla, Sifat Khurana, Vimal Bhola |
| Key Brands | Bare Anatomy, Chemist at Play, Sunscoop |
| FY23 Revenue | ₹36.53 crore |
| FY25 Revenue | ~₹300 crore |
| Profitability | Turned profitable in FY25 |
| Total Funding | Over $26–30 million |
Innovist reported strong financial improvement, with revenue touching nearly INR 300 crore in FY25 and achieving profitability after earlier losses.
The company has also raised funding from investors such as ICICI Venture, Sauce VC, and Amazon Smbhav Venture Fund.
L’Oréal-Innovist Deal Structure and Current Status
Reports suggest that L’Oréal is looking to acquire a majority stake in Innovist, though the deal has not been officially confirmed by either party yet.
The expected valuation range of $350-450 million indicates a sharp jump from Innovist’s earlier funding valuations, reflecting strong growth and investor confidence in the brand.
At present, discussions are ongoing, and final deal terms, including stake size and timeline, remain undisclosed.
What This Means for India’s Startup Ecosystem
If completed, the acquisition would be one of the notable deals in India’s beauty and personal care space. It also signals increasing global interest in Indian D2C startups.
For founders and investors, this deal highlights a clear trend—global companies are actively looking to partner with or acquire high-growth Indian consumer brands.
For consumers, it could mean wider product reach, stronger distribution, and potentially faster innovation from Innovist’s portfolio.
Nitin Konde