Marico said on 9 February that its subsidiary Marico South East Asia Corporation had signed definitive agreements to acquire 75% of Skinetiq, a Vietnamese direct-to-consumer skincare company, based on an equity valuation of about ₹350 crore.
Why Marico Ltd is buying Skinetiq JSC
Marico said the investment builds a premium beauty business in Vietnam and advances its direct-to-consumer strategy outside India. About half of Vietnamese beauty spending now goes through e-commerce and social-commerce channels, and Skinetiq earns most of its revenue online.
“Vietnam remains a priority market for us, driven by its strong macroeconomic fundamentals and rapidly evolving beauty landscape.”
Deal terms and financing
The consideration of up to VND750bn is payable in cash in two tranches: VND637.5bn on receipt of the shares and VND112.5bn subject to conditions in the agreements. Marico has the right to acquire the remaining shares after its 2028 financial year at a price to be set at that time, subject to milestones.
Regulatory approvals and timing
The deal required approval from Vietnam's Department of Finance and was expected to close within 90 days. Marico told the Indian exchanges that it completed the purchase on 2 April 2026.
Market context
Skinetiq was founded in 2020 by Bui Ngoc Anh and beauty blogger Hannah Nguyen. Its revenue rose from VND131bn in 2023 to VND443bn in 2025, with an EBITDA margin in the mid-twenties per cent. Marico already sells personal-care brands in Vietnam, where international business makes up about a quarter of group revenue.
