French beauty products giant L'Oréal has signed an agreement to acquire a majority stake in Indian personal care startup Innovist. Although financial details were not officially disclosed, the deal is reported to value Innovist at around $350 million to $450 million (roughly Rs 3,240–4,170 crore). The founders of Innovist, the parent company of popular brands like 'Bare Anatomy' and 'Chemist at Play', will continue to lead the business while retaining minority stakes.

L'Oréal is making this major investment with the aim of strengthening its presence in India's fast-growing beauty market. Innovist, a science-based skincare and haircare brand for Indian consumers, will become part of L’Oréal’s Consumer Products Division, subject to regulatory approvals in the coming months.

This is one of the largest acquisitions in the digital to consumer (D2C) market in India in recent times. The acquisition of Innovist, which competes with leading brands such as Honasa Consumer, Pilgrim and Minimalist, will give L’Oréal a major foothold in the Indian market. This latest move by L’Oréal follows similar acquisitions by major companies such as Hindustan Unilever (HUL), Marico and ITC.