The deal, valued at approximately 750 billion VND, was executed through Marico South-East Asia Corporation, a wholly-owned subsidiary of Marico based in TP HCM. This transaction values Skinetiq's equity at about 1,000 billion VND.

Skinetiq was established in 2020 by Bui Ngoc Anh and Hannah Nguyen, also known as Hannah Olala. Hannah Olala is a beauty content creator with over 1.5 million followers on TikTok and Facebook.

The company owns the Candid skincare brand and is the exclusive distributor of Murad in Vietnam. It generates most of its revenue from online channels and has experienced rapid growth through social commerce. In 2025, Skinetiq reported 450 billion VND in revenue, maintaining an average pre-tax profit margin above 20%.

Hannah Nguyen (Hannah Olala), co-founder of Skinetiq. Photo: MCN Olala.

Marico is among India's leading consumer goods conglomerates specializing in beauty and wellness. For the financial year 2024-2025, the company recorded 1.3 billion USD in revenue. Its international business currently contributes about 25% of the group's revenue, featuring brands such as: HairCode, Fiancee, Caivil, Hercules, X-Men, and Purite de Provence.

Marico acquired a controlling stake in Skinetiq amidst a significant shift in Vietnam's beauty industry, where about 50% of consumer spending is driven by e-commerce and social media channels.

Data from the Metric platform indicates that beauty was the largest product category by gross merchandise value (GMV) last year across Shopee, TikTok Shop, Lazada, and Tiki. Vietnamese consumers spent nearly 74,500 billion VND to purchase over 560 million beauty products on these four platforms, representing an increase of nearly 30% in value and over 6% in volume compared to 2024.

Hannah Nguyen was born in 1984 in Buon Ma Thuot and moved to the US as a child. She graduated with a degree in Economics from City University of New York. In 2011, she returned to Vietnam, pursuing a career in the beauty sector and becoming a key opinion leader (KOL) known as Hannah Olala. In addition to co-founding Skinetiq, she is the CEO of MCN Olala, an ecosystem dedicated to sharing beauty knowledge and personal experiences.

Dy Tung