Marubeni acquires J-beauty brand to build beauty and health platform in Japan

Japanese trading and investment conglomerate Marubeni Corporation has acquired J-beauty brand Etvos to build a Beauty and Health business platform in Japan. 

The company made the acquisition as part of its consumer investment strategy GC2027, which focuses on high-growth, value, and scalable businesses. The deal is positioned as a “cornerstone” in the company’s strategy to expand into the domestic beauty, health, and wellness industries.

“In Japan, the Beauty and Health market — including skin care, cosmetics, personal care, dietary foods, and supplements — is expanding amid rising consumer interest in beauty and wellness, and is expected to reach a market size of approximately ¥7 trillion (US$45.19 billion),” the company says.

Marubeni says the deal reflects its push to strengthen consumer-facing businesses and create new long-term growth pillars by 2030.

While Etvos serves as the core of this strategy, Marubeni intends to expand its portfolio of beauty and health brands through additional acquisitions in the future.

Skin care in focus

Etvos specializes in creating gentle, mineral-based cosmetics that aim to minimize stress and irritation on the skin.

The brand sells through several channels, including its official online store and directly operated physical stores with dedicated beauty advisors. Etvos products are also available at over 700 retail locations across Japan through its partner retailers.

The acquisition comes amid growth in Japan’s beauty and health market, which the company estimates will reach around ¥7 trillion.Marubeni attributes Etvos’ growth since its debut to a business strategy that combines product competitiveness and a multichannel sales approach.

The acquisition was made through Marubeni Consumer Platform Japan, a Marubeni subsidiary established in April 2025 to lead consumer-facing investments. The Etvos deal marks the unit’s first investment.

Health and beauty convergence

The acquisition falls against a backdrop of many business moves integrating wellness and beauty. Last week, retailers Ulta and Boots expanded into the beauty wellness sphere. Ulta Beauty opened four wellness boutiques in the US, featuring brands like Stripes Beauty and The Nue Co.

Meanwhile, Boots debuted dedicated in-store wellness spaces where consumers can talk to experts for pro-age advocacy and gain insights on products for healthy aging and menopause.

According to AAK’s 2026 trend report, “wellness” is likely to redefine skin care in the year ahead.