Marico to acquire 100% stake in Vietnamese personal care brand Beauty X
Marico’s subsidiary, Marico South-East Asia Corporation, has signed a definitive agreement to acquire 100 per cent of Beauty X, which owns female personal care brands Purité de Prôvence and Ôliv for Rs 172 crore.
The transaction is expected to be completed by March 31, subject to requisite regulatory approvals and customary closing conditions.
In calendar year 2021, Beauty X had a turnover of Rs 82 crore, according to the company’s exchange filing.
Beauty X has a range of products in hair care and skin care segments such as shower gels, shampoos, conditioners, face wash, lotions, among others.
Saugata Gupta, MD and CEO, Marico, said, “The addition of Purité de Prôvence and Ôliv presents an opportunity to significantly expand our play in female beauty and personal care category and therefore increase our total addressable market in a high growth country like Vietnam.”
Gupta added, “ Both brands have established a distinct natural proposition and scaled up profitably in a rather short span of time. We are buoyant about the medium-term prospects of the beauty and personal care category in Vietnam and expect to further step up growth and profitability through investing in brand building and leveraging various operational synergies with our existing portfolio over the next few years.”
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