CCI approves L’Oreal India’s acquisition of personal care firm Onesto Labs

New Delhi: Fair trade regulator CCI on Tuesday approved cosmetics major L'Oreal India's proposal to acquire beauty and personal care company Onesto Labs.

"The proposed combination pertains to the acquisition of 100 per cent shareholding in Onesto Labs Pvt Ltd (target) by L'Oreal India Pvt Ltd (acquirer)," the Competition Commission of India (CCI) said in a release.

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L'Oreal India, a wholly-owned subsidiary of L'Oreal SA, has been operating since 1994.

L'Oreal India operates with 26 brands, such as L'Oreal Paris, Garnier, Maybelline New York, and NYX Professional Makeup, which are mass-market products.

Besides, it has two manufacturing facilities in Chakan (Maharashtra) and Baddi (Himachal Pradesh), and Research and Innovation facilities in Mumbai and Bengaluru.

"Commission approves acquisition of Onesto Labs by L'Oreal India," the anti-trust watchdog said in a post on X.

In June this year, French cosmetics major L'Oreal announced that it will acquire a majority stake in Innovist, a leading digital-first Indian personal care company, expanding its presence in one of the world's fastest-growing beauty markets.

The company did not disclose financial details of the transaction.

Also Read: L’Oréal buys control of Innovist as India beauty battle intensifies

Founded in 2019 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist is a science-led, digital-first personal care company with brands such as Bare Anatomy and Chemist at Play in its portfolio.

Innovist's skincare and hair care products are available across its own direct-to-consumer platforms, major e-commerce and quick commerce channels, and offline retail partnerships nationwide.

Under the agreement, the Innovist founding team will continue to run the business. The brands will become part of L'Oreal's Consumer Products Division portfolio.

In 2022, Onesto Labs officially rebranded to Innovist. It serves as an umbrella "house of brands" platform that designs, formulates, and sells science-first personal care products such as SunScoop and Anecdote.

Deals beyond a certain threshold require approval from CCI.

The regulator keeps a tab on unfair business practices and also promotes fair competition in the market place.