In February 2011, Marico entered the Vietnam market by acquiring an 85% equity stake in International Consumer Products Corporation (ICP)-one of the most successful Vietnamese FMCG companies.
ICP was founded by Dr. Phan Quoc Cong and his partner in 2001. It owns brands like X-Men, X-Men for Boss, L'ovite, Thuan Phat, Dr. Men and Vegy which have a significant presence in the personal care, beauty, cosmetics and foods categories. The X-Men brand is a leading player in the male grooming segment in Vietnam, and is one of the most trusted personal care brand in the country. It leads the men's shampoo category with over 40% market share and has now extended its presence to other male grooming segments such as deodorants and shower gels where it currently it holds No.1 or No.2 position.
L'Ovite, the company's premium cosmetics brand, ranks amongst the top premium cosmetics brands in Vietnam while Thuan Phat participates in the rapidly growing branded sauces and condiments market in Vietnam.
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