Marico signs pact to buy majority stake in Vietnamese D2C company Skinetiq | Company News

 

Skinetiq is a Vietnamese direct-to-consumer company that owns the digital-first, science-backed skincare brand Candid. Skinetiq also holds exclusive distribution rights in Vietnam for the skincare brand Murad.
 

The deal will be executed in two tranches. Marico will pay Rs 222.3 crore on receipt of 75 per cent of the total shares, and in the second tranche it will pay Rs 39.3 crore, subject to fulfilment of certain terms and conditions under the definitive agreements.

 
 

Skinetiq was co-founded in 2020 by Bui Ngoc Anh and Hannah Nguyen, a leading beauty blogger in Vietnam with more than 1.5 million followers on both TikTok and Facebook, the company said in an exchange filing.
 

“Vietnam’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. Skinetiq has scaled to Rs 152 crore in revenues in CY2025 with a sustainable mid-twenties Ebitda margin profile,” the filing added.
 

The filing also said that the transaction aligns with Marico’s long-term strategy of building a strong premium beauty play in Vietnam, while enabling participation in the country’s growing D2C beauty market and realising various operational synergies.
 

Saugata Gupta, managing director and chief executive officer of 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 and executive chairman of 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.”