L'Oreal to Buy Majority Stake in Innovist to Expand Footprint in India

By Andrea Figueras

L'Oreal said it has signed an agreement to acquire a majority stake in India's beauty and personal care brand Innovist to boost the company's presence in the country.

"This strategic move marks a major step in L'Oreal's expansion in India's fast-growing beauty industry and complements its portfolio with local brands tailored for Indian consumers," the French group said Thursday.

The transaction, the financial details of which weren't disclosed, is expected to be completed in the next few months, pending regulatory approvals and other conditions.

Under the agreement, the Innovist founding team will remain minority shareholders, and will continue to operate and scale the business in collaboration.

The Innovist brands will be part of L'Oreal's consumer products division. "India is one of the most exciting and fast-evolving beauty markets in the world, and this partnership places us right at the heart of that momentum," Fabrice Megarbane, president of the division, said.

L'Oreal said it will start consolidating Innovist sales from the date of the closing of the transaction. It also secured rights to buy out the minority shareholders in full.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

June 18, 2026 03:09 ET (07:09 GMT)