L’Oréal, the world’s leading beauty company, announced on Thursday, June 18, that it has acquired a majority stake in Innovistan Indian platform for personal care and beauty brands. The financial terms of the transaction were not disclosed.

“This strategic move marks a major step in L’Oréal’s expansion in India’s fast-growing beauty industry and complements its portfolio with local brands tailored for Indian consumers,” the French group said in a press release.

Founded in 2019, Innovist has established a portfolio of fast-growing brands, including Bare Anatomy, SunScoop and Chemist at Playbacked by integrated research and development and in-house manufacturing capabilities.

“By bringing together the very best of L’Oréal’s global expertise with Innovist’s high-performing, science-led products and deep-rooted understanding of the Indian consumer, I believe we are poised to shape the future of beauty in this dynamic market,” said Nicolas Hieronimus, Chief Executive Officer of L’Oréalas quoted in the statement.

Under the terms of the agreement, Innovist’s founding team will retain a minority stake and continue to lead the business in partnership with L’Oréal India. The deal also grants L’Oréal the option to acquire the remaining shares held by minority shareholders at a later date.

India’s rapidly expanding beauty market has become an increasingly attractive destination for global companies. However, industry experts note that the country’s Gen Z consumers show a strong preference for homegrown brandsmaking partnerships with local players a key strategic advantage.