Marico Limited has announced a strategic acquisition that will significantly expand its direct-to-consumer (D2C) footprint in Vietnam's rapidly growing beauty market. The company's wholly owned subsidiary, Marico South East Asia Corporation (MSEA), has entered into definitive agreements to acquire a 75% stake in Skinetiq Joint Stock Company, a Vietnamese skincare company.

Acquisition Details

The strategic investment involves acquiring 75% of Skinetiq's total shares from existing shareholders for an aggregate consideration of up to VND 750 billion, equivalent to INR 261.6 crores based on the conversion rate as of February 06, 2026.

The first tranche will be paid upon receipt of 75% of total shares, while the second tranche is subject to fulfillment of certain terms and conditions under the definitive agreements. Additionally, MSEA has the right to acquire the remaining shares of Skinetiq after completion of FY28, subject to achievement of certain milestones and requisite approvals.

About Skinetiq Joint Stock Company

Skinetiq Joint Stock Company was established in Ho Chi Minh City, Vietnam on January 9, 2020. The company was co-founded by Mr. Bui Ngoc Anh and Ms. Hannah Nguyen, a leading beauty blogger in Vietnam with more than 1.5 million followers on both TikTok and Facebook.

The company owns the digital-first science-backed skincare brand "Candid" and holds exclusive distribution rights in Vietnam for the globally renowned luxury clinical skincare brand "Murad". Candid offers clinically proven active ingredient-based skincare products catering to the mid-premium market, including:

• Retinol treatments
• B5 Cica barrier-repair creams
• Multi-layer hydration masks
• AHA/BHA/PHA exfoliants
• Niacinamide + vitamin C brightening masks
• Peptide-based eye care products

Financial Performance

Skinetiq has demonstrated strong revenue growth over the past three years, with the majority of its revenues generated through online channels:

The company has scaled to INR 152 crores in revenues in CY2025 with a sustainable mid-twenties EBITDA margin profile, representing significant growth from INR 45 crores in CY2023.

Strategic Rationale

According to Saugata Gupta, MD and CEO of Marico Limited, "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."

The transaction aligns with Marico's long-term strategy of building a strong premium beauty presence in Vietnam while enabling participation in the country's growing D2C beauty market. Vietnam's beauty industry is undergoing a remarkable shift, with approximately 50% of category consumption now driven by e-commerce and social commerce channels.

Transaction Timeline and Approvals

The acquisition requires approval from the Department of Finance in Vietnam and is expected to be completed within 90 days from the date of signing definitive agreements, subject to receipt of requisite regulatory approvals and customary closing conditions. The consideration will be paid entirely in cash.

Upon completion of the acquisition, Skinetiq will become a subsidiary of MSEA and consequently a subsidiary of Marico Limited. The acquisition does not fall within related party transactions, and the promoter/promoter group of the company do not have any interest in the transaction.

Source:

Marico has announced a strategic investment to acquire a controlling stake in Cosmix Wellness, marking a significant expansion into the wellness and nutrition segment. The consumer goods company plans to purchase a 60% stake from the founders of Cosmix Wellness in a transaction valued at ₹2.26 billion.

Strategic Acquisition Details

The investment represents Marico's commitment to diversifying its portfolio and strengthening its position in the rapidly growing wellness market. The acquisition will see Marico become the majority shareholder in Cosmix Wellness, taking control from the existing founders.

Market Positioning

This acquisition aligns with Marico's strategy to expand beyond traditional consumer goods into high-growth segments. Cosmix Wellness operates in the nutrition and wellness space, which has seen increased consumer demand and market growth in recent years.

The transaction will provide Marico with direct access to Cosmix Wellness's product portfolio, distribution networks, and customer base in the wellness segment. This move is expected to complement Marico's existing consumer goods business and create synergies across product categories.

Investment Structure

The ₹2.26 billion investment will be used to acquire the majority stake directly from Cosmix Wellness founders. This structure ensures that Marico gains immediate control and decision-making authority in the company's operations and strategic direction.

The acquisition represents one of Marico's significant investments in expanding its business portfolio and entering new market segments with strong growth potential.