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To foray into the personal care segment in the Vietnamese market, fast-moving consumer goods(FMCG) major Marico Ltd on Friday announced the acquisition of two premium beauty brands — Purité de Prôvence and Ôliv — through its wholly owned subsidiary Marcio South-East Asia Corporation (MESA).
The brands have been acquired at 493 billion Vietnamese Dong or ₹172 crore based on December 9 conversion rate. The acquisition is to be completed by March 31, 2023, and is subject to requisite regulatory approvals and customary closing conditions.
The personal care brands offers a range of hair care and skin care products including shower gels, shampoos, conditioners, face washes and lotions. Marico also stated that the company will be offering a range of premium and differentiated hair care and skin care products in the Vietnamese market.
“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 period. 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,” said Saugata Gupta, MD, and CEO, Marico.
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