In February 2011, Marico entered the Vietnamese market by acquiring 85% of the shares of ICP, one of Vietnam’s most successful FMCG companies. ICP was founded by Dr. Phan Quoc Cong and his partner in 2001. The company owns brands such as X-Men, X-Men for Boss, L’ovite, Thuan Phat, Dr. Men, and Vegy, with a significant presence in personal care, cosmetics, and food products. The X-Men brand is one of the most trusted personal care brands in Vietnam, leading the men’s shampoo segment with over 40% market share. It has expanded its presence into other male grooming segments like deodorants and body wash, where it holds the number one or two positions. L’Ovite, the company’s premium cosmetics brand, is among the top luxury cosmetic brands in Vietnam, while Thuan Phat operates in the branded condiments and seasoning market in the country.