Published
Dec 12, 2022
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Marico to acquire Vietnam's Beauty X Corporation

Published
Dec 12, 2022

Marico has signed an agreement to acquire Vietnamese business Beauty X Corporation which owns beauty and personal care brands Purite de Provence and Oliv. The Indian personal care and fast moving consumer goods giant will acquire Beauty X Corporation for approximately Rs 172 crore. 

Haircare by Purite de Provence - Purite de Provence - Facebook


“The addition of Purite de Provence and Oliv presents an opportunity to significantly expand our play in the female beauty and personal care category and further increase our total addressable market in a high-growth country like Vietnam,” said Marico’s managing director and CEO Saugata Gupta, Indian Retailer Bureau reported. “Both brands have established a distinct natural proposition and scaled up profitably in a rather short span of time.”
 
Beauty X has a turnover of around Rs 82 crore through its brands. Purite de Provence has a highly feminine aesthetic and is inspired by French rural farming. The brand retails a wide range of hair care products including shampoos and conditioners, according to its Facebook page. Oliv retails a selection of skincare and body care products among others.

The acquisition deal will be carried out through a cash transaction which will be completed around March 31, 2023, according to Marico. The deal is still subject to the requisite regulatory approvals and customary closing conditions.

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