Representatives from Marico and Skinetiq pose for a photo.  —Photo provided by the agency

HCM CITY — Marico Ltd, one of India’s leading consumer products companies operating in global beauty and wellness, aims to expand its direct-to-consumer presence in Việt Nam through the acquisition of a majority stake in local skincare company Skinetiq Joint Stock Company.

Marico said on Tuesday that its wholly owned subsidiary, Marico South-East Asia Corporation, has entered into definitive agreements to acquire a 75 per cent equity stake in Skinetiq, valuing the Vietnamese company at US$40 million.

Việt Nam’s beauty industry is undergoing a remarkable shift, with about 50 per cent of category consumption now driven by e-commerce and social commerce channels. Founded in 2020, Skinetiq owns digital-first, science-backed skincare brand Candid and holds exclusive distribution rights in Việt Nam for luxury clinical skincare brand Murad.

The company generated revenues of about $16 million in calendar year 2025, with EBITDA margins in the mid-20 per cent range.

"Việt Nam remains a priority market for us, driven by its strong macroeconomic fundamentals and rapidly evolving beauty landscape," Marico Managing Director and CEO Saugata Gupta said. 

“The investment in Skinetiq reflects our commitment to building a strong premium beauty play in Việt Nam and advancing our D2C strategy internationally,” he said. 

He added that this partnership positions his firm to invest ahead of the curve in Việt Nam’s fast-growing e‐commerce and D2C space, while creating a strong platform to introduce more brands in the years ahead.

Bùi Ngọc Anh, Founder and Executive Chairman at Skinetiq JSC, said: "Partnering with Marico gives us the platform, expertise and resources to build a strong foundation for long-term, sustainable growth." — VNS