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Marico targets digital growth via three ‘string of pearls’ deals
The New Indian Express Vishakapatnam
|February 15, 2026
Buyouts show company wants to become online-first firm by expanding addressable mkt
MARICO Ltd’s recent acquisition spree across skincare, wellness nutrition and gourmet snacking is not a set of isolated bets, but part of a clearly articulated strategy to build a portfolio of premium, digital-first brands that can be rapidly scaled using the company’s distribution, backend and go-to-market strengths.
Within weeks, the FMCG major has announced three transactions — a 75% stake in Vietnam-based D2C skincare company Skinetiq; a 60% stake in digital-first wellness brand Cosmix in India; and a 93.27% stake in gourmet snacking brand 4700BC from PVR INOX. Together, these deals underline what management describes as a ‘string of pearls’ approach to acquisitions — targeting smaller, high-potential, founder-led brands that fill portfolio gaps and can be scaled fast, instead of pursuing large, expensive buyouts.
Vietnam bet
Through its wholly-owned subsidiary Marico South-East Asia Corporation, Marico will acquire 75% in Skinetiq at an equity valuation of about ₹350 crore. Founded in 2020, Skinetiq owns science-backed skincare brand Candid and has exclusive distribution rights for global clinical skincare brand Murad in Vietnam.
The company scaled to about ₹152 crore in revenues in CY2025 with mid-twenties EBITDA margins, driven largely by e-commerce and social commerce.
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