Marico signs pact to buy majority stake in Vietnamese D2C company Skinetiq | Company News
Marico on Monday announced that its wholly-owned subsidiary, Marico South-East Asia Corporation (MSEA), has entered into definitive agreements to acquire a 75% stake in Vietnamese direct-to-consumer company Skinetiq Joint Stock Company, based on an equity valuation of Rs 350 crore, in an all-cash transaction.
Skinetiq is a Vietnamese direct-to-consumer company that owns the digital-first, science-backed skincare brand Candid. Skinetiq also holds the exclusive distribution rights in Vietnam for the Murad skincare brand.
The transaction will be executed in two tranches. Marico will pay Rs 222.3 crore on receipt of 75 per cent of the total shares, and in the second tranche, it will pay Rs 39.3 crore, subject to compliance with certain terms and conditions in the definitive agreements.
Skinetiq was co-founded in 2020 by Bui Ngoc Anh and Hannah Nguyen, a leading beauty blogger in Vietnam with more than 1.5 million followers on TikTok and Facebook, the company said in an exchange filing.
“Vietnam’s beauty industry is undergoing a remarkable shift, with around 50 per cent of category consumption now driven by e-commerce and social commerce channels. Skinetiq has reached a revenue of Rs 152 crore during FY2025 with a sustainable Ebitda margin profile in the mid-20s,” the filing adds.
The filing also states that the transaction aligns with Marico’s long-term strategy to build a strong premium beauty sector in Vietnam, while providing opportunities to participate in the country’s growing D2C beauty market and realize various operational synergies.
Saugata Gupta, Managing Director and Chief Executive Officer of Marico, said: “The investment in Skinetiq reflects our commitment to building a strong premium beauty sector in Vietnam and advancing our D2C strategy internationally. Vietnam remains a priority market for us, driven by its strong macroeconomic fundamentals and rapidly evolving beauty landscape. Skinetiq’s digital model and science-backed portfolio perfectly align with Marico’s vision for the future of beauty and Portfolio premiumization positions us to invest ahead of the curve in Vietnam’s rapidly growing e-commerce and D2C space, while creating a strong platform to introduce more brands in the years to come.
Bui Ngoc Anh, founder and executive chairman of Skinetiq JSC, said: “We founded Skinetiq with a simple belief: Vietnamese consumers deserve high-quality skincare, backed by science and tailored to their needs. Today, our partnership with Marico gives us the platform, expertise and resources to build a strong foundation for long-term sustainable growth. I am excited to embark on our next phase with a company that shares our ambition and commitment to excellence, as we expand our innovation pipeline and deepen our connections with Vietnamese consumers.”
