Marico enters agreement to buy 75% stake in Vietnam’s Skinetiq

New Delhi: Marico has announced that its wholly owned subsidiary, Marico South-East Asia Corporation (MSEA), has entered into definitive agreements to acquire a 75% equity stake in Vietnam-based Skinetiq Joint Stock Company. The transaction is based on an equity valuation of approximately Rs 350 crore.

Founded in 2020 by Bui Ngoc Anh and Hannah Nguyen, Skinetiq operates in the direct-to-consumer skincare segment in Vietnam. The company owns Candid, a digital-first skincare brand positioned in the mid-premium segment, and also holds exclusive distribution rights in Vietnam for clinical skincare brand Murad. Nguyen is a beauty content creator in Vietnam with a following of more than 1.5 million across TikTok and Facebook.

Vietnam’s beauty market has seen increased online purchasing, with around half of category consumption taking place through e-commerce and social commerce channels. Skinetiq reported revenues of approximately Rs 152 crore in calendar year 2025 and operates with an EBITDA margin in the mid-twenties, according to company disclosures.

The business derives a majority of its revenue from online channels and has built its presence through social commerce, dermatology-led content and digital communities.
Candid’s product portfolio includes retinol-based treatments, barrier repair creams, hydration masks, exfoliants and peptide-based eye care products, among others, with a focus on active ingredients and mid-premium positioning.

Saugata Gupta, MD and CEO, Marico, said, “The investment in Skinetiq reflects our commitment to building a strong premium beauty play in Vietnam and advancing our D2C strategy internationally. Vietnam remains a priority market for us, driven by its strong macroeconomic fundamentals and rapidly evolving beauty landscape.

Skinetiq’s digital-led model and science-backed portfolio align seamlessly with Marico’s vision for the future of beauty and portfolio premiumisation. This partnership positions us 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.”

Bui Ngoc Anh, Founder & Executive Chairman, Skinetiq JSC said, “We founded Skinetiq with a simple belief: Vietnamese consumers deserve high-quality, science-backed skincare tailored to their needs. Today, partnering with Marico gives us the platform, expertise, and resources to build a strong foundation for long-term, sustainable growth. I’m excited to embark on our next phase with a company that shares our ambition and commitment to excellence, as we scale our innovation pipeline and deepen our connection with Vietnamese consumers.”