French beauty company L’Oréal is in talks to buy a majority stake in Indian personal care startup Innovist. The deal could value Innovist between $350 million and $450 million, according to reports.
Innovist is known for its digital-first brands like Bare Anatomy, Chemist at Play, Sunscoop, and Vinci Botanicals. These brands mainly sell online and focus on science-based beauty and personal care products. The company has grown quickly in recent years and has become popular among young consumers in India.
If the deal goes through, L’Oréal is expected to first buy a controlling stake in Innovist. Over time, it may increase its ownership and eventually take full control of the company. However, the final details of the deal are still being discussed and could change.
This move is part of L’Oréal’s strategy to expand its presence in India, which is one of the fastest-growing beauty markets in the world. The company has been increasing its investments in the country to tap into rising demand for skincare, haircare, and wellness products.
Innovist’s strong growth has made it an attractive option for acquisition. The startup has seen a sharp rise in revenue and has also improved its profitability. Its focus on research-driven products and online sales has helped it stand out in a crowded market.
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