L’Oreal to Acquire Majority Stake in Innovist

L'Oreal is in talks to acquire a majority stake in Indian BPC brand Innovist, valuing the company between $350M-$450M. Deal expected by April.

sivam March 19, 2026

L’Oreal is reportedly in discussions to acquire a majority stake in the Indian beauty and personal care (BPC) startup Innovist, potentially valuing the company between $350 million and $450 million (₹3,264 Cr to ₹4,196 Cr), according to a Moneycontrol report.

The deal structure may involve L’Oreal initially acquiring a controlling stake, with a complete buyout of the Accel-backed startup planned in subsequent years. Financial details of the transaction are still under negotiation. A source quoted by Moneycontrol suggests the deal could be finalized by the end of April if talks progress as expected.

Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist operates brands such as Bare Anatomy, Chemist at Play, SunScoop, and Vinci Botanicals. The company has raised approximately $30 million across multiple funding rounds from investors including Accel, Amazon Smbhav, and ICICI Ventures.

Innovist reported a net profit of ₹12.1 Cr for the year ending March 31, 2025 (FY25), a turnaround from a net loss of ₹12.51 Cr in the previous fiscal year. Operating revenue for the same period stood at ₹299.05 Cr, a 2.8X increase from ₹105.77 Cr in FY24.

If completed, the Innovist acquisition would continue a trend of larger corporations acquiring tech-enabled startups in the Indian consumer sector. Last year, HUL acquired a 90.5% stake in Minimalist for ₹2,706.44 Cr. More recently, Marico acquired a majority stake in Cosmix Wellness for approximately ₹226 Cr, while Dabur India invested in RAS Luxury Skincare.