L'Oréal Takes Majority Stake in Innovist (Bare Anatomy, Chemist at Play); First India Deal Since 2013
L'Oréal to acquire a majority stake in Bengaluru's Innovist (Jun 18, 2026); founders stay as minority holders. Innovist FY25 revenue ₹299cr (~2.8× YoY); media-estimated value ~$350–450M (undisclosed).
TL;DR — Jun 18, 2026: L'Oréal to acquire majority stake in Innovist (Bengaluru; brands Bare Anatomy, Chemist at Play); founders retain minority, L'Oréal holds full buyout rights. First L'Oréal India acquisition since 2013. Terms undisclosed; media est. ~$350–450M. Innovist FY25 revenue ₹299cr (~2.8× YoY).
A masstige, digital-first bolt-on into the Consumer Products Division.
Deal facts
| Deal fact | Detail |
|---|---|
| Target | Innovist (Bengaluru, founded 2019) |
| Brands | Bare Anatomy, Chemist at Play |
| Stake | Majority (founders stay as minority shareholders) |
| Reported value* | ~$350–450M / ₹4,000 crore |
| Innovist FY25 revenue | ₹299 crore (≈2.8× FY24) |
Not disclosed by L'Oréal; figure is media-reported.
- Founders: Rohit Chawla, Sifat Khurana, Vimal Bhola (founded 2019); channels D2C/e-comm/quick-comm/offline. Source: L'Oréal, Entrackr.
Strategic rationale
- India BPC market: ~$32.77B (2026) → $48.7B (2034). Young, digital, fast-growing.
- L'Oréal CEO Nicolas Hieronimus: "By bringing together the very best of L'Oréal's global expertise with Innovist's high-performing, science-led products… we are poised to shape the future of beauty in this dynamic market."
- Close: coming months, pending approvals.
FAQ
Structure?
Majority stake; founders retain minority + continue operating; L'Oréal has full buyout rights.
Value?
Undisclosed officially; media ~$350–450M / ₹4,000cr.
Brands?
Bare Anatomy (hair), Chemist at Play (skin).
Significance?
First L'Oréal India acquisition since 2013; entry into a ~$32.77B market.
Sources: L'Oréal Finance (press release), Reuters, Entrackr.
Image: ArionStar, CC0 (public domain), via Wikimedia Commons.
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