Competition Commission of India approves L’Oréal India’s acquisition of Onesto Labs 

INDIA – The Competition Commission of India has approved L’Oréal India’s acquisition of Onesto Labs, the parent company of digital-first beauty platform Innovist, allowing the transaction to move closer to completion after it was first announced in June 2026.

Under the agreement, L’Oréal India will acquire 100% of Onesto Labs, although the companies have not disclosed the financial terms. 

The transaction is valued at approximately ₹4,000 crore (USD 428 million).

Founded in 2019, Innovist owns several beauty and personal-care brands, including Bare Anatomy, Chemist at Play, SunScoop, and Anecdote. 

The company sells skincare and haircare products through its own websites, e-commerce platforms, quick-commerce applications, and beauty retailers across India.

Innovist has built a strong connection with younger Indian consumers who discover beauty products online and pay close attention to ingredients, product claims, and scientific research. 

This shift has increased demand for science-backed products, clean formulations, and greater transparency about the ingredients used in skincare and haircare products.

The acquisition will strengthen L’Oréal’s position in India by adding established local brands with strong digital visibility and an existing customer base. 

Innovist will also gain access to L’Oréal’s global research, manufacturing, marketing, and distribution capabilities, which could support the company’s expansion in India and other markets.

Innovist’s founding team is expected to remain involved in managing the business after the acquisition. 

Their continued participation will help preserve the company’s entrepreneurial culture, operating speed, and close understanding of Indian consumers while L’Oréal provides additional resources and international expertise.

The deal comes as India’s beauty market continues to expand rapidly. 

The sector has already surpassed USD 30 billion in value and is expected to reach approximately USD 34 billion by 2028, supported by rising disposable incomes, urbanisation, increased smartphone use, and the rapid growth of e-commerce and quick-commerce services.

Digital platforms have made beauty products more accessible to consumers outside India’s largest cities. 

They have also helped brands reach shoppers in tier-two and tier-three cities, where consumers are increasingly interested in discovering new skincare, haircare, and personal-care products.

L’Oréal has operated in India since 1994 and currently manages 26 brands, two factories, and two research centres in the country. 

The company has identified India as a strategic market, while its chief executive, Nicolas Hieronimus, has said that L’Oréal aims to more than double its business in the country in the coming years.

Innovist has also recorded significant financial growth. The company reportedly generated more than ₹300 crore (USD 35 million) in revenue during fiscal year 2025, representing a 2.8-times increase from the previous financial year. 

By 2026, its annual revenue was reported to have reached approximately ₹1,000 crore (USD 118 million).

The acquisition reflects L’Oréal’s growing interest in India’s online beauty economy and its young, digitally connected consumers. 

By combining L’Oréal’s global expertise with Innovist’s local market knowledge, science-led products, and online reach, the partnership could help both companies compete more effectively in India’s fast-changing beauty industry.

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