Marico arm to buy Vietnamese firm Skinetiq for INR 2.62 billion
This story was originally published at 20:10 IST on 9 February 2026
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NEW DELHI – Marico Ltd. Monday said its subsidiary, Marico South East Asia Corp., will buy 75% stake in Vietnamese direct-to-consumer skin care firm Skinetiq Joint Stock Co. for 750 billion Vietnamese dong, or INR 2.62 billion. The deal, which values the Vietnamese company at INR 3.50 billion, is part of the Indian fast-moving consumer goods firm's long-term plan to build a strong premium beauty play in Vietnam and to participate in the country's growing direct-to-consumer beauty market, it said in an exchange filing.
Skinetiq owns the skin care brand Candid and holds the exclusive distribution rights in Vietnam for Murad. The deal will be completed in two tranches: the first tranche of INR 2.22 billion after getting 75% of the shares in Skinetiq and the second tranche of INR 393 million, which is contingent upon fulfilment of certain terms and conditions. Marico's arm has the right to purchase the remaining 25% shares in Skinetiq at the end of the financial year 2027-28 (Apr-Mar).
"Vietnam remains a priority market for us, driven by its strong macroeconomic fundamentals and rapidly evolving beauty landscape," Marico Managing Director and Chief Executive Officer Saugata Gupta said in a release. "This partnership positions us to invest ahead of the curve in Vietnam's fast-growing ecommerce and D2C space, while creating a strong platform to introduce more brands in the years ahead," Gupta said.
Skinetiq recorded a revenue of INR 1.52 billion in 2025 with an earnings before interest, tax, depreciation, and amortisation margin in the mid-twenties, according to the filing. For the December quarter, Marico reported, on a consolidated basis, a net profit of INR 4.47 billion on a revenue of INR 35.37 billion. Monday, the company's shares ended slightly higher at INR 754.85 on the National Stock Exchange. End
Reported by Anand JC
Edited by Rajeev Pai
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