Marico expands Southeast Asia footprint with 75% acquisition of Skinetiq
Marico’s leadership views it as a proactive step to lead in Vietnam’s competitive D2C landscape.
VIETNAM – Marico South-East Asia Corporation (MSEA), a fully owned arm of India’s Marico Limited, has secured a 75% stake in Vietnam’s direct-to-consumer (D2C) beauty and personal care firm Skinetiq Joint Stock Company (JSC).
This strategic purchase, announced on February 9, 2026, values Skinetiq’s equity at around USD 40 million and aims to fortify Marico’s foothold in Vietnam’s dynamic cosmetics sector.
MSEA agreed to buy 75% of Skinetiq’s shares from current owners for a total of up to VND 750 billion (USD 38.6 million), payable in two stages.
The initial payment covers the shares upon transfer, while the subsequent portion depends on the satisfaction of specific conditions outlined in the binding contracts.
MSEA also retains the option to purchase the remaining 25% stake after fiscal year 2028, contingent on performance targets and required clearances.
The entire process is awaiting standard regulatory approvals from Vietnam’s Department of Finance and is expected to conclude within 90 days, after which Skinetiq will operate as MSEA’s subsidiary, fully funded in cash.
Launched in 2020 by entrepreneurs Bui Ngoc Anh and Hannah Nguyen, Skinetiq specializes in D2C skincare under its science-driven Candid brand, which spans mass-to-premium tiers and sells through e-commerce, modern outlets, and traditional channels.
The firm also manages the exclusive distribution of Murad, a high-end U.S. clinical skincare line, in Vietnam.
Skinetiq reported revenue of approximately INR 152 crore in calendar year 2025, reflecting robust expansion amid Vietnam’s e-commerce surge, with online sales now accounting for half of beauty purchases.
This move supports Marico’s push into premium, digitally native beauty products in Southeast Asia, capitalizing on Vietnam’s economic growth, urbanization, and heightened demand for branded personal care.
By integrating Skinetiq’s local expertise with Marico’s global scale, the deal enhances operational control and long-term potential in sustainable skincare innovation.
Meanwhile, Marico Limited recently released its Q3 FY26 results, with consolidated net profit surging 12.03% year-on-year (YoY) to ₹447 crore (USD 49.28M), up from ₹399 crore (USD 44M).
This performance was driven by strong revenue growth and volume gains across domestic and international segments.
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