Marico Limited said that its wholly-owned subsidiary Marico South-East Asia Corporation (MSEA) has signed a legally binding contract to buy Beauty X Corporation in its entirety.
Purité de Prôvence and liv, two female personal care brands owned by Beauty X, provide a variety of high-end and distinctive hair and skin care products in Vietnam, including shower gels, shampoos, conditioners, face washes, and lotions.
Saugata Gupta, MD, and CEO, Marico Limited, said, “The addition of Purité de Prôvence and Ôliv presents an opportunity to significantly expand our play in the female beauty and personal care category and therefore increase our total addressable market in a high growth country like Vietnam. 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 [1] up growth and profitability through investing in brand building and leveraging various operational synergies with our existing portfolio over the next few years,” he said.
