Marico Limited’s subsidiary Marico South-East Asia Corporation (MSEA) has announced its 100% acquisition of the Beauty X Corporation which owns female personal care brands ‘Purité de Prôvence’ and ‘Ôliv’, which offer a range of premium and differentiated hair care and skin care products in Vietnam, such as shower gels, shampoos, conditioners, face wash, lotions, among others.
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, Saugata Gupta, managing director (MD) and CEO, Marico Limited, said. “We are buoyant about the medium-term prospects of the beauty and personal care category in Vietnam and expect to further step up growth and profitability through investing in brand building and leveraging various operational synergies with our existing portfolio over the next few years,” he further added.
Ôliv, which was launched in 2017, claims to use the benefits of extra virgin olive oil, combined with other natural ingredients, in its range of products for the nourishment of hair and skin. Meanwhile, Purité de Prôvence, launched in 2011, aims to use pure and natural beauty with the know-how and ingredients of Provence, France, which come to life in various fragrances such as lavender, cherry blossom, rose, among others, it claimed.