L'Oréal has signed an agreement to acquire a majority stake in Innovist, a personal care brand house in India.

Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist owns brands including Bare Anatomy and Chemist at Play. Its skincare and haircare products are available via direct-to-consumer platforms, e-commerce and quick commerce channels, and offline retail partnerships.

The Innovist founding team will remain as minority shareholders and continue to operate the business in collaboration with L'Oréal India. The Innovist brands will join L'Oréal's Consumer Products Division portfolio.

L’Oréal will start consolidating Innovist sales from the date of the closing of the transaction. As part of the agreement, L’Oréal has also secured rights 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.

For more information, visit loreal-finance.com.