Agenda-setting intelligence, analysis and advice for the global fashion community.
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent company Innovist, The Economic Times India reported Friday, citing insider sources.
The deal is reportedly valued at approximately Rs 4,000 crore ($427.45 million). “Discussions have been ongoing for about a year and negotiations are in advanced stages,” the industry source added. L’Oréal did not return request for comment.
L’Oréal is eyeing the acquisition of the Indian personal care startup to revive growth in the region, the sources said. In a February earnings call, global chief executive Nicolas Hieronimus stated he was “not satisfied” with growth in the region, but shared he was optimistic about the set-up of a new team. Leading that team is Jacques Lebel, who was appointed as country manager for L’Oréal India effective Oct. 2025. Earlier this year, the French beauty giant also announced an investment of $383 million to establish a beauty tech hub in the southern Indian city of Hyderabad.
Founded in 2018, Innovist is the parent company of direct-to-consumer brands including personalised hair care label Bare Anatomy and the botanically-infused Vinci Botanicals. In 2025, the company received a Series B investment of $16 million led by ICICI Venture, and reported profitability with a revenue of $32 million.
ADVERTISEMENT
The high growth market of India has emerged as a prime target for beauty giants in recent years. Earlier this month, The Estée Lauder Companies acquired Ayurvedic beauty line Forest Essentials to further strengthen its presence within the region. In February, Hindustan Unilever announced it would invest up to $220.54 million to scale up its own manufacturing capabilities.
Learn more:
The Estée Lauder Companies Acquires Forest Essentials
The luxury Ayurvedic skincare line will be the first deal by the conglomerate under the leadership of Stéphane de La Faverie.
