Recently, Skin Laboratory Public Company Limited (SKIN) has successfully raised THB 52.8 million ($1.64 million) through its initial public offering and will begin trading on Thailand’s Market for Alternative Investment on September 24, 2025. The company sold 44 million shares at THB 1.20 each, representing 30.55% of post-IPO equity, while founders retain a 69.44% stake under lock-up conditions.
On September 25, the share price of Skin Laboratory Public Company Limited (mai.SKlN) surged to THB 4.24 in the morning session, representing a 17.13% increase with atotal trading value of THB 273.19 million ($84 million).
Best known for its Skinsista and Dermie skincare lines targeting younger consumers, SKIN is gearing up for aggressive product development with plans to launch 20 new SKUs in 2025, including 16 in the second half of the year, some featuring celebrity collaborations. Despite operating with just 30 employees, the company maintains a debt-free, asset-light model that delivers strong profitability, boasting gross margins of 75% and annual revenue between THB 200 million and THB 300 million.
With wide distribution across Lazada, Shopee, TikTok, Lotus’s, Big C, 7-Eleven, and specialty retailers, SKIN is leveraging its IPO momentum to accelerate category expansion and pursue international growth, highlighting investor confidence in the agility of Thailand’s new generation of beauty companies.
