The Estée Lauder Companies Inc (ELC) announced today that it has invested in independent beauty company DECIEM.
Details of any shareholding or terms of the investment were not disclosed.
DECIEM was founded in 2013 in Toronto, Canada by Brandon Truaxe, who leads the company alongside Co-CEO Nicola Kilner.
ELC described DECIEM as an innovative multi-brand company propelled by a vertically integrated structure – with its own laboratory, manufacturing, e-commerce sites, retail stores and marketing infrastructure. This enables the company to rapidly identify opportunities, create and incubate new brands, and deliver “quality, much-sought-after” products, ELC said.
DECIEM has launched ten brands to date. These include “international cult favourite” The Ordinary, an evolving collection of skincare treatments offering “familiar and effective ingredients at accessible prices”. Another label is NIOD, an ingredients-driven skincare brand focused on addressing the root causes of aging.
ELC said: “With a vibrant following among millennials and diverse consumers seeking “functional beauty” grounded in science, DECIEM offers a broad range of products across price points through its own multi-brand stores, department stores, e-commerce, TV shopping networks and select retailers, primarily in the U.S., U.K., and Canada.”
“In four short years, Brandon and Nicola have established, in DECIEM, a powerful engine of innovation and growth,” said The Estée Lauder Companies Inc President and Chief Executive Officer Fabrizio Freda. “Through its unique business model, DECIEM has produced some of the most creative independent brands on the market, capturing the passion and trust of devoted fans around the world – and they are just getting started. We look forward to engaging with the team and supporting their global growth aspirations.
“It’s nearly unthinkable for a conglomerate to embrace a disruptive mindset like that of DECIEM – and yet we have felt like family from the very first day we met the loving team at The Estée Lauder Companies,” said Brandon Truaxe Truaxe. “I am so truly honoured, humbled, excited and emotional to have the support of such a remarkable partner on our path to driving innovation in beauty.”
“DECIEM is a new kind of beauty company that is well-positioned to create a new generation of successful beauty brands,” said The Estée Lauder Companies Executive Chairman William P. Lauder. “Brandon is the quintessential founder and entrepreneur who, as Estée Lauder exemplified, is willing to take risks, push the boundaries of beauty, and fearlessly pursue a bold vision. We are excited by DECIEM’s great potential and the opportunity to be part of its future.”