French cosmetics co. L’Oreal to acquire personal care player Innovist

Paris-headquartered global cosmetics firm L’Oreal is to acquire a majority stake in Gurugram-based beauty and personal care (BPC) company Innovist .Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist operates a portfolio of brands, including Bare Anatomy, Chemist at Play, SunScoop, and Vinci Botanicals. The company plans to use the resources from this partnership to scale its operations. Innovist will continue to be managed by members of its founding team, who will remain as minor stakeholders.L’Oreal has also secured the rights to acquire the remaining minority shares in the future.