Foreign
THE Estée Lauder Companies Inc. has announced that it has completed the first phase of increasing its ownership in DECIEM Beauty Group Inc.
“DECIEM”, the Canadian-based, vertically integrated, multi-brand company. The Estée Lauder Companies, ELC now owns approximately 76% of DECIEM, up from 29%, and has agreed to purchase the remaining interests after a three-year period at a price that will be determined based on the future performance of DECIEM.
Known as “The Abnormal Beauty Company”, DECIEM is an industry disruptor with a consumer-focused approach. It was founded in 2013 by the late Brandon Truaxe, a visionary who set out to change the beauty industry through authenticity and transparency.
He developed the company with creativity and innovation alongside Founder, Pasquale Cusano, and Co-Founder, Nicola Kilner, who is continuing as CEO of DECIEM.
DECIEM’s portfolio currently encompasses six brands, including The Ordinary, an internationally popular skin care brand with impressive community- and referral-driven buzz reflecting a deep connection with its global consumer base of skin care devotees.
– May 20, 2021 @ 18:59 GMT
Tags: The Estée Lauder Companies increases ownership in DECIEM
