Mumbai: Marico Limited 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 Skinetiq Joint Stock Company at an equity valuation of approximately ₹350 crore.
Founded in 2020 by Bui Ngoc Anh and Hannah Nguyen — a leading beauty blogger in Vietnam with over 1.5 million followers on both TikTok and Facebook — Skinetiq is a fast-growing Vietnamese direct-to-consumer (D2C) company. It owns the digital-first, science-backed skincare brand Candid and also holds exclusive distribution rights in Vietnam for the globally renowned luxury clinical skincare brand Murad.
Vietnam’s beauty industry is witnessing a major transformation, with nearly half of category consumption now driven by e-commerce and social commerce. Skinetiq has scaled rapidly, reaching ₹152 crore in revenues in CY2025, supported by a sustainable mid-twenties EBITDA margin profile.
Candid’s portfolio focuses on clinically proven, active-ingredient-based skincare products in the mid-premium segment. Its offerings include retinol treatments, B5 Cica barrier-repair creams, multi-layer hydration masks, AHA/BHA/PHA exfoliants, niacinamide and vitamin C brightening masks, and peptide-based eye care solutions. The brand derives the majority of its revenue from online channels, leveraging social commerce, dermatology-led content, and a strong community of young, digitally savvy consumers.
Saugata Gupta, MD and CEO, Marico Limited, 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 premiumization. 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.”
