I've never heard it before, but it looks lovely on paper! I'm curious as to how it's pronounced. I can't really say if I like it without the proper pronunciation.
I think it's usable, but little
Maret is going to have to specify pronunciation a lot. It's a little hard to grasp at first glance. I prefer it to
Margaret and
Marguerite. I'd tie it with
Margot and
Margaretha.