Consumer products giant Marico announced that its unit, Marico South-East Asia Corporation (MSEA), is set to buy 75 per cent equity stake in Vietnam-based Skinetiq Joint Stock Company. Not only is this the Indian major's foray into Vietnam's Gen-Z beauty market, but it is also a major win for social media influencer-led D2C businesses.
Skinetiq was co-founded by Bui Ngoc Anh and Hannah Nguyen, a Vietnam-based beauty blogger who has an active following on TikTok. Skinetiq owns Candid (digital-first skincare brand) and the exclusive Vietnam distribution rights to Murad (luxury clinical skincare brand).
Marico announced on Monday that its wholly owned subsidiary MSEA entered into definitive agreements to acquire 75% equity stake in Skinetiq based on an equity valuation of around Rs 350 crore.
The beauty and wellness industry in Vietnam is now primarily driven by e-commerce and social commerce channels. In 2025, Skinetiq—a firm founded in 2020—scaled to around Rs 152 crore in revenues.
Saugata Gupta, MD and CEO, Marico Limited, said that the company looks to build a strong premium beauty play in Vietnam and advance its D2C strategy internationally through its investment in Skinetiq.
"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," added Gupta.
Skinetiq Executive Chairman and co-founder Bui Ngoc Anh said, "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."
On Tuesday morning, Marico stock spiked around 0.3 per cent at the NSE shortly after the opening bell.