L'Oréal takes majority stake in Innovist as India beauty M&A wave accelerates
L'Oréal India is buying control of D2C house Innovist (Bare Anatomy, Chemist at Play, Sunscoop) to revive growth that slipped to 5% in FY25 from 14%. Innovist hit Rs 301 cr revenue (+182%) and turned profitable. Deal mirrors HUL-Minimalist and EL-Forest Essentials as MNCs race for digital-first share of a $34bn BPC market by 2028.
L'Oréal is acquiring a majority stake in Indian D2C beauty startup Innovist (Bare Anatomy, Chemist at Play, Sunscoop) to revive slowing India growth and tap digital-first consumers, joining HUL-Minimalist and Estée Lauder-Forest Essentials in beauty consolidation.