L’Oréal India wins CCI approval to acquire Innovist parent Onesto Labs

India’s competition regulator has cleared L’Oréal India’s acquisition of 100% of Onesto Labs, parent of digital-first personal-care brands Bare Anatomy and Chemist at Play. Innovist’s founders will continue to operate the business under L’Oréal’s Consumer Products Division; a closing timeline was not disclosed.

— Source publishedTue, 22 Sept, 2026, 20:47 IST·First seen Tue, 22 Sept, 2026, 20:50 IST·Source Mint

What happened

L'Oréal India · CCI approved L’Oréal India’s acquisition of 100% of Onesto Labs, the Innovist parent of Bare Anatomy and Chemist at Play. Innovist’s founders

Key facts

  • 100% shareholding acquisition of Onesto Labs by L'Oréal India
  • 26 brands in L'Oréal India's portfolio
  • 2 manufacturing units
  • Innovist founded in 2019
  • Onesto Labs rebranded as Innovist in 2022
  • L'Oréal has operated in India since 1994

Why this matters

The transaction shows global beauty incumbents using acquisitions of founder-led, digital-native brands to gain local consumer relevance, e-commerce capabilities, and faster exposure to India’s personal-care growth.

What to watch

  • Transaction closing announcement and disclosed purchase consideration or valuation indicators.
  • Changes in founders’ titles, reporting lines, equity incentives and senior Innovist employee retention.
  • Offline distribution expansion, including placement at Nykaa, Reliance Retail, Shoppers Stop, pharmacies and general trade.
  • SKU rationalization, reformulations, new clinical claims or price-pack changes after integration.
  • Marketplace ranking, review volume, repeat-rate signals and promotional intensity for Bare Anatomy and Chemist at Play.
  • L’Oréal India’s next earnings commentary on Consumer Products Division growth, acquisition integration and India investment.
  • Competitive responses from Honasa, Nykaa brands, Unilever, P&G and other science-led Indian personal-care entrants.
  • Keep Innovist founders in visible operating and brand-building roles to preserve digital-native credibility and retention.
  • Expand Bare Anatomy and Chemist at Play selectively into L’Oréal’s offline distribution network, prioritizing high-velocity pharmacy, beauty-specialty and modern-trade doors.
  • Use L’Oréal R&D, claims substantiation and packaging procurement to accelerate clinically positioned hair, scalp, deodorant and bodycare launches.
  • Integrate marketplace data, loyalty, CRM and media-buying capabilities to reduce customer-acquisition costs and improve repeat purchase.
  • Evaluate additional India D2C acquisitions or minority investments in adjacent high-growth segments such as dermocosmetics, fragrance, men’s grooming and hair/scalp treatment.

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