India’s Marico buys 75% stake in Vietnamese cosmetics firm

Marico South-East Asia Corporation (MSEA), a wholly owned subsidiary of India’s Marico Limited, on Monday announced that it had acquired a 75% stake in Vietnam’s direct to consumer (D2C) beauty and personal care company Skinetiq JSC.

KPMG Vietnam acted as the exclusive sell-side financial advisor for the transaction. The deal value was not disclosed.

Marico’s presence at Skinetiq is expected to help the Vietnamese company expand its share in the 100-million-strong domestic market and support its global ambitions.

Marico is one of India's leading consumer goods companies operating in the global beauty and wellness categories. In financial year 2024-2025, Marico recorded a turnover of $1.3 billion through its products sold in India and chosen markets in Asia and Africa.

Marico touches the lives of one out of every three Indians, through its portfolio of brands such as Parachute, Saffola, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Pure Sense, Coco Soul, Revive, Set Wet, Livon, Beardo, Just Herbs, True Elements, and Plix.

The international consumer products portfolio contributes about 25% of the group’s revenue, with brands like Parachute, Parachute Advansed, HairCode, Fiancée, Purité de Prôvence, Ôliv, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, Thuan Phat, and Isoplus.

Founded in 2011, with its headquarters in Ho Chi Minh City, MSEA also operates in Malaysia, Cambodia and Myanmar.

In Vietnam, MSEA holds a leading position in several men’s personal-care categories with its X-Men brand. It also owns the Thuan Phat traditional spice portfolio, alongside women’s personal-care brands including Lashe Superfood, Purité de Prôvence, and Ôliv.

Marico MD and CEO Saugata Gupta said the investment in Skinetiq reflects Marico’s commitment to building a strong premium beauty play in Vietnam and advancing its D2C strategy internationally.

Vietnam remains a priority market for Marico, driven by its strong macroeconomic fundamentals and rapidly evolving beauty landscape, he affirmed.

Skinetiq’s digital‑led model and science‑backed portfolio align seamlessly with Marico’s vision for the future of beauty and portfolio premiumization, he continued.

This partnership positions Marico to invest ahead of the curve in Vietnam’s fast-growing e‑commerce and D2C space, while creating a strong platform to introduce more brands in the years ahead, Gupta said.

Bui Ngoc Anh, founder & executive chairman of Skinetiq, said partnering with Marico gives Skinetiq a platform, expertise, and resources to build a strong foundation for long‑term, sustainable growth.

Co-founded in 2020 by Anh and Hannah Nguyen, Skinetiq is an early mover in online cosmetics, distinguished by a data-driven, digital-first brand growth model. The company owns the Candid skincare brand and serves as the exclusive distributor in Vietnam for global premium dermo-cosmetic label Murad.