Marico South-East Asia Corporation (MSEA), the Maricos’s fully owned subsidiary, has entered into a definitive agreement to buy 100% of Vietnam-based Beauty X Corporation for 172 crore in cash.
Beauty X owns the female personal care brands Purité de Prôvence and liv, which sell a variety of hair care and skin care products such as shower gels, shampoos, conditioners, face wash, and lotions.
With the inclusion of Purité de Prôvence and liv, we will be able to dramatically expand our presence in the female beauty and personal care categories, increasing our total addressable market in a high-growth country like Vietnam. Both brands have built a distinct natural proposition and profitably expanded up in a relatively short period of time. We are optimistic about the medium-term prospects of the beauty and personal care category in Vietnam and expect to accelerate growth and profitability over the next few years by investing in brand building and leveraging various operational synergies with our existing portfolio,” said, MD and CEO, Marico Limited.