L’Oréal gets CCI nod for Innovist parent
The Competition Commission of India (CCI) recently granted approval for cosmetics giant L'Oréal India to acquire Onesto Labs. The deal involves the acquisition of 100% stake in Onesto Labs by L'Oréal India. The CCI's release confirmed the transaction details. L'Oréal India is a wholly-owned subsidiary of L'Oréal SA, having been active since its inception in 1994.
Operating under 26 brands, L'Oréal India offers mass-market products like L'Oréal Paris, Garnier, and Maybelline New York. The company's facilities are spread across Chakan, Maharashtra, Baddi, Himachal Pradesh, Mumbai, and Bengaluru. In June, L'Oréal announced its acquisition of Innovist, a prominent digital-first Indian personal care company.
The financial details of this transaction were not disclosed. Founded in 2019 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist boasts brands like Bare Anatomy and Chemist at Play. The brands of Innovist will join L'Oréal's Consumer Products Division portfolio, with the Innovist founding team retaining control of the business.
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