Marico has officially moved to acquire a 75% stake in the Ho Chi Minh City-based beauty firm Skinetiq. The deal is based on an equity valuation of 350 crore INR, with a total cash consideration of approximately 261.6 crore INR (750 billion VND) to be paid in two tranches. The acquisition strengthens Marico’s international direct-to-consumer (D2C) portfolio in Vietnam, a priority market where beauty consumption via e-commerce and social commerce has surged to 50%. Marico retains the option to acquire the remaining 25% stake after FY28, contingent on the achievement of specific performance milestones. Skinetiq has demonstrated high-velocity growth, with revenues climbing from 45 crore INR in CY23 to 152 crore INR in CY25. The company maintains a healthy profit profile with EBITDA margins in the mid-twenties. Its portfolio includes the digital-first skincare brand "Candid" and exclusive Vietnamese distribution rights for the global luxury clinical brand "Murad." The broader Vietnam cosmetic market was valued at 1.7 billion USD in 2024 and is projected to reach 2.8 billion USD by 2032. This expansion is supported by a 6.7% CAGR and a young, urban middle class that increasingly prioritizes premium skincare. Online beauty sales in the region grew by 22% in the last year alone, driven by heavy engagement on platforms like TikTok Shop and Shopee. For Marico, this move aligns with a robust Q3 performance where international revenues rose 24% year-on-year in rupee terms. The Vietnam business specifically rebounded with a 22% constant currency growth rate during the same period. The company’s digital-first portfolio is now on track to cross an annual revenue run rate (ARR) of 1,000 crore INR by the end of FY26. This strategic entry into Vietnam's premium segment follows Marico's recent domestic expansions, including investments in plant-based protein and gourmet snacking. The company aims to scale its international "Premium Personal Care" and digital brands to represent a significantly larger portion of its 10,831 crore INR annual revenue base by FY27.