L'Oréal signed an agreement on 18 June to acquire a majority stake in Innovist, an Indian digital-first personal care company behind brands including Bare Anatomy and Chemist at Play.
Why L'Oréal is buying Innovist (Onesto Labs)
L'Oréal described India as one of the most exciting and fast-evolving beauty markets in the world and said the deal would bring it closer to a new generation of digitally savvy Indian consumers. Innovist's brands will join L'Oréal's Consumer Products Division.
Deal terms and financing
Financial terms were not disclosed. The three founders will remain minority shareholders and continue to run the company alongside L'Oréal India, and L'Oréal has secured the right to acquire the minority shareholders' stakes in full. Inc42 reported earlier talks at a valuation of $350m to $450m.
Regulatory approvals and timing
Closing was subject to regulatory approvals. The Competition Commission of India approved the acquisition of Onesto Labs, Innovist's legal entity, in September 2026; L'Oréal will consolidate the business from closing.
Market context
Founded in 2019, Innovist sells hair, skin and sun care through its own websites, e-commerce and quick-commerce platforms and offline retailers. It raised a ₹136 crore Series B led by ICICI Venture in 2025, and competes with Mamaearth, Plum and Minimalist.
