Marico Limited said its wholly owned subsidiary, Marico South East Asia Corporation, has entered into definitive agreements to acquire a 75% equity stake in Skinetiq, a Vietnam-based beauty and personal care company, for an aggregate consideration of ₹262 crore.
Skinetiq owns the digital-first, science-backed skincare brand “Candid” and also holds exclusive distribution rights in Vietnam for luxury clinical skincare brand “Murad.”
The acquisition is aligned with Marico’s strategy to strengthen its premium beauty and D2C footprint in Vietnam, one of the fastest-growing beauty markets in Southeast Asia.
The transaction will be completed in two tranches and is subject to regulatory approvals in Vietnam. Post acquisition, Skinetiq will become a subsidiary of Marico South East Asia Corporation and, consequently, of Marico Limited. Marico also has the option to acquire the remaining stake post FY28, subject to certain milestones.
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Skinetiq operates largely through online and social commerce channels and caters to the mid-premium skincare segment with clinically backed products.
Ahead of the announcement, shares of Marico Limited closed at ₹753.00, up 0.25%, on the NSE.
