Skin Laboratory to debut on MAI following USD 1.65M IPO
The IPO proceeds will fuel SKIN’s growth strategies, including product development and the launch of new cosmetics and cosmeceuticals.
THAILAND – Skin Laboratory Public Company Limited (SKIN), a Thai innovator in the beauty product industry, is set to launch on the Market for Alternative Investment (mai) on September 24, 2025.
This move follows a successful initial public offering (IPO) that raised THB 52.8 million (USD 1.65 million) from the sale of 44 million shares, priced at THB 1.20 (USD 0.037) each, representing 30.55% of the post-IPO paid-up capital.
SKIN develops and markets its skincare products under two proprietary brands, Skinsista and Dermie, featuring a diverse lineup that includes serums, creams, sunscreens, and powders.
The company’s products are formulated through strategic partnerships with certified contract manufacturers adhering to international quality standards.
Its distribution network encompasses modern trade retailers, general trade stores, and online platforms, targeting primarily self-care enthusiasts aged 18-30 years.
The IPO proceeds will fuel SKIN’s growth strategies, including product development, launching new cosmetics and cosmeceuticals, expanding marketing and public relations efforts to build brand awareness, and expanding its reach both nationally and internationally.
The company plans to introduce around 20 new stock-keeping units (SKUs) by 2025.
SKIN aims to ride the rising T-Beauty wave, capitalizing on growing local consumer preferences for Thai-made skincare products tailored to local skin concerns.
Financially, SKIN’s revenue breakdown in the first half of 2025 showed a balanced contribution from facial serums (42.82%), sunscreen products (41.76%), facial skincare products (9.26%), and facial cleansing and other products (6.15%).
The company’s post-IPO market capitalization is approximately THB 172.8 million (USD 5.42 million), with a price-to-earnings (P/E) ratio of about 12 times and earnings per share of THB 0.10(USD 0.0031).
The shareholder structure following the IPO still reflects significant holdings by original shareholders, along with notable individual investors in Thailand’s capital market.
SKIN’s leadership emphasizes sustainable growth through a diversified product portfolio and expanded consumer access across both online and offline channels.
The launch comes at a time when Thailand’s skincare market is experiencing robust growth, projected to reach USD 1.18 billion in revenue by 2025 with a 4.81% CAGR through 2030.
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