L’Oreal to Buy Majority Stake in Innovist to Expand Footprint in India

L’Oreal OR -0.75%decrease; down pointing triangle said it has signed an agreement to acquire a majority stake in India’s beauty and personal care brand Innovist to boost the company’s presence in the country.

“This strategic move marks a major step in L’Oreal’s expansion in India’s fast-growing beauty industry and complements its portfolio with local brands tailored for Indian consumers,” the French group said Thursday.