{"id":681,"date":"2026-03-30T16:54:27","date_gmt":"2026-03-30T07:54:27","guid":{"rendered":"https:\/\/india-marketing.jp\/vietnam-news\/marico-skinetiq-candid-vietnam-d2c-beauty-acquisition\/"},"modified":"2026-08-02T16:48:09","modified_gmt":"2026-08-02T07:48:09","slug":"marico-skinetiq-candid-vietnam-d2c-beauty-acquisition","status":"publish","type":"vietnam-news","link":"https:\/\/india-marketing.jp\/en\/vietnam-news\/marico-skinetiq-candid-vietnam-d2c-beauty-acquisition\/","title":{"rendered":"India's Marico acquires 75% stake in Vietnamese D2C beauty brand Candid for approximately 4.4 billion yen \u2014 Gen Z skincare brand with 1.5 million TikTok-driven followers acquired by foreign capital"},"content":{"rendered":"<div class=\"disclaimer-asof\" style=\"border:1px solid #e0e0e0;background:#fafafa;padding:16px 18px;margin:0 0 28px;font-size:.92em;line-height:1.8;border-radius:4px;\">\nThis article is based on what we could verify <strong>As of August 1, 2026<\/strong> This article is based on public materials and news reports from Vietnam. Vietnam's tax system, regulations, and administrative divisions change frequently, so information here may have been updated since publication. For actual business decisions, please confirm the latest details with the relevant government authorities or local experts as primary sources.\n<\/div>\n\n\n<p>India's major consumer goods maker <strong>Marico<\/strong> announced on February 9, 2026 that it had agreed to acquire shares of Skinetiq JSC, the company behind Vietnamese D2C skincare brand \"<strong>Candid<\/strong>,\"<strong>acquiring a 75% stake<\/strong> the company said. The enterprise valuation was <strong>approximately 3.5 billion rupees (approximately 5.8 billion yen)<\/strong>. This deal, in which a Vietnamese Gen Z beauty D2C brand founded by two influencers was acquired by an Indian FMCG major, is drawing attention as a clear illustration of the maturity of the Vietnamese consumer market.<\/p>\n\n<h2>What kind of brands are Skinetiq and Candid?<\/h2>\n<p>Skinetiq JSC is a skincare company founded in 2020 by two Vietnamese women \u2014<strong>Bui Ngoc Anh<\/strong> and <strong>Hannah Nguyen<\/strong>\u2014 who together have a combined following of more than <strong>1.5 million<\/strong> on TikTok and Facebook as beauty influencers, and who have used their reach on social media directly as the brand's growth engine.<\/p>\n<p>Its flagship brand \"Candid\" is a digital-first clinical skincare line for Gen Z, offering a lineup organized by skin concern such as acne, brightening, and hydration. It also holds the exclusive distribution rights in Vietnam for the premium clinical skincare brand \"Murad.\"<\/p>\n<p>In 2025, sales reached<strong>\u7d0415.2\u5104\u30eb\u30d4\u30fc\uff08\u20b9152 crore\uff0f\u7d0426\u5104\u5186\uff09<\/strong>, with an EBITDA margin in the mid-20% range, reflecting high profitability.<\/p>\n\n<h2>Why Marico is looking to Vietnam<\/h2>\n<p>Marico is a leading Indian FMCG (fast-moving consumer goods) maker known for products such as the hair oil brand \"Parachute\" and the beauty brand \"Livon.\" It operates in Southeast Asia through Marico South-East Asia Corporation (MSEA), and Vietnam is already one of its key markets.<\/p>\n<p>This Skinetiq acquisition carries strategic significance for Marico in the following three respects.<\/p>\n<ul>\n<li><strong>Gaining D2C and digital-native capabilities:<\/strong> Being able to bring in influencer-driven social media marketing and D2C sales channels as-is<\/li>\n<li><strong>Direct reach to Vietnamese Gen Z:<\/strong> An existing community of more than 1.5 million influencer followers<\/li>\n<li><strong>Entry into the high-margin premium skincare market:<\/strong> Acquiring high-priced lines in one go, including the exclusive distribution rights for Murad<\/li>\n<\/ul>\n\n<h2>The current state of Vietnam's D2C beauty market<\/h2>\n<p>Vietnam's cosmetics and skincare market continues to expand at an annual growth rate of 10-12%. Gen Z in particular (born 1997-2012) gathers beauty information via social media and has a strong affinity for D2C brands. The spread of TikTok Shop has further accelerated this trend, and cases of influencer-founded brands achieving large sales in a short period are increasingly common.<\/p>\n<p>Candid is a textbook example. The speed of growth, reaching a valuation of about 5.8 billion yen from a foreign FMCG maker just five years after founding, clearly demonstrates the potential of Vietnam's D2C market.<\/p>\n\n\n\n<div class=\"p-blogParts post_content\" data-partsid=\"1002\">\n<div class=\"swell-block-fullWide pc-py-60 sp-py-60 alignfull\" style=\"background-color:#da251d\"><div class=\"swell-block-fullWide__inner l-container\">\n<div class=\"wp-block-columns\">\n<div class=\"wp-block-column\">\n<h3 class=\"wp-block-heading has-text-align-center is-style-section_ttl u-mb-ctrl u-mb-10 has-white-color has-text-color has-link-color wp-elements-1\">\u30d9\u30c8\u30ca\u30e0\u9032\u51fa\u652f\u63f4\u4e8b\u696d\u306e\u8cc7\u6599\u30c0\u30a6\u30f3\u30ed\u30fc\u30c9<\/h3>\n\n\n\n<p class=\"has-text-align-center has-white-color has-text-color has-link-color wp-elements-2 wp-block-paragraph\"><strong>\u6771\u5357\u30a2\u30b8\u30a2\u306e\u6210\u9577\u5e02\u5834\u3092\u653b\u3081\u308b<\/strong>\u306b\u306f<\/p>\n\n\n\n<div class=\"wp-block-columns are-vertically-aligned-center\">\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:35%\">\n<figure class=\"wp-block-image size-large size_xs\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"http:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1-1024x576.jpg\" alt=\"\" class=\"wp-image-998\" srcset=\"https:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1-1024x576.jpg 1024w, https:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1-300x169.jpg 300w, https:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1-768x432.jpg 768w, https:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:30%\">\n<ul class=\"wp-block-list -list-under-dashed\">\n<li class=\"has-white-color has-text-color has-link-color wp-elements-3\">\u30d9\u30c8\u30ca\u30e0\u306b\u3064\u3044\u3066\u307e\u305a\u306f\u77e5\u3063\u3066\u307f\u308b<\/li>\n\n\n\n<li class=\"has-white-color has-text-color has-link-color wp-elements-4\">\u88fd\u9020\u62e0\u70b9\u304b\u3089\u8ca9\u58f2\u62e0\u70b9\u306b<\/li>\n\n\n\n<li class=\"has-white-color has-text-color has-link-color wp-elements-5\">\u307e\u305a\u306f\u81ea\u793e\u306e\u30c6\u30b9\u30c8\u3092\u3057\u305f\u3044<\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:35%\">\n<div class=\"swell-block-button -size-l is-style-more_btn\"><a href=\"https:\/\/india-marketing.jp\/en\/vietnam\/\" rel=\"\u30d9\u30c8\u30ca\u30e0\u9032\u51fa\u652f\u63f4\u306b\u3064\u3044\u3066\" class=\"swell-block-button__link\"><span>\u8cc7\u6599\u306e\u30c0\u30a6\u30f3\u30ed\u30fc\u30c9\u306f\u3053\u3061\u3089<\/span><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n\n<h2>Implications for Japanese consumer goods and beauty makers<\/h2>\n<p>From this Marico x Skinetiq deal, there are two points Japanese companies should take away.<\/p>\n\n<h3>1. Vietnamese D2C beauty brands have matured as M&amp;A targets<\/h3>\n<p>When Japanese majors such as Shiseido, Kao, and Kose expand in Vietnam, partnering with, investing in, or acquiring a local D2C brand has become a realistic option. In some cases, it is more efficient to bring in a D2C company that already has an influencer base and existing customers than to build a brand from scratch.<\/p>\n\n<h3>2. A market where social-media- and influencer-driven brands can turn a profit<\/h3>\n<p>A pitfall Japanese companies often fall into when entering Vietnam is having high product quality but weak social media presence. Vietnamese Gen Z decides what to buy based on information from people they trust on TikTok and Instagram. Entering the market through a co-branding arrangement with an influencer, or through OEM supply, is also worth considering.<\/p>\n\n<p>Related article: <a href=\"https:\/\/india-marketing.jp\/en\/vietnam-news\/meituan-vietnam-entry-grabfood-shopee-japanese-strategy\/\">China's Meituan and its Vietnam D strategy, and the impact on Japanese companies<\/a>, <a href=\"https:\/\/india-marketing.jp\/en\/vietnam-news\/dat-bike-vietnam-ev-motorbike-funding\/\">Dat Bike raises an additional $4 million<\/a><\/p>\n\n<h3>Sources<\/h3>\n<ul>\n<li><a href=\"https:\/\/theinvestor.vn\/indias-marico-buys-75-stake-in-vietnamese-cosmetics-firm-d18363.html\" target=\"_blank\" rel=\"noopener\">The Investor: India&#8217;s Marico buys 75% stake in Vietnamese cosmetics firm Skinetiq (2026-02-09)<\/a><\/li>\n<li><a href=\"https:\/\/www.business-standard.com\/companies\/news\/marico-signs-pact-to-buy-majority-stake-in-vietnamese-d2c-company-skinetiq-126020901348_1.html\" target=\"_blank\" rel=\"noopener\">Business Standard: Marico signs pact to buy majority stake in Vietnamese D2C company Skinetiq (2026-02-09)<\/a><\/li>\n<\/ul>\n\n<div class=\"p-blogParts post_content\" data-partsid=\"1002\">\n<div class=\"swell-block-fullWide pc-py-60 sp-py-60 alignfull\" style=\"background-color:#da251d\"><div class=\"swell-block-fullWide__inner l-container\">\n<div class=\"wp-block-columns\">\n<div class=\"wp-block-column\">\n<h3 class=\"wp-block-heading has-text-align-center is-style-section_ttl u-mb-ctrl u-mb-10 has-white-color has-text-color has-link-color wp-elements-6\">\u30d9\u30c8\u30ca\u30e0\u9032\u51fa\u652f\u63f4\u4e8b\u696d\u306e\u8cc7\u6599\u30c0\u30a6\u30f3\u30ed\u30fc\u30c9<\/h3>\n\n\n\n<p class=\"has-text-align-center has-white-color has-text-color has-link-color wp-elements-7 wp-block-paragraph\"><strong>\u6771\u5357\u30a2\u30b8\u30a2\u306e\u6210\u9577\u5e02\u5834\u3092\u653b\u3081\u308b<\/strong>\u306b\u306f<\/p>\n\n\n\n<div class=\"wp-block-columns are-vertically-aligned-center\">\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:35%\">\n<figure class=\"wp-block-image size-large size_xs\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"http:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1-1024x576.jpg\" alt=\"\" class=\"wp-image-998\" srcset=\"https:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1-1024x576.jpg 1024w, https:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1-300x169.jpg 300w, https:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1-768x432.jpg 768w, https:\/\/india-marketing.jp\/wp-content\/uploads\/2026\/05\/umami-kikaku-1.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center\" style=\"flex-basis:30%\">\n<ul class=\"wp-block-list -list-under-dashed\">\n<li class=\"has-white-color has-text-color 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