The agreement will see Estee Lauder purchase the Toronto-based company behind the popular skin care brand The Ordinary in two phases.
It said Deciem, which calls itself The Abnormal Beauty Company, is an “industry disruptor with a consumer-focused approach.” The closures sparked outcry from Deciem fans and beauty behemoth Estee Lauder took him to court and ultimately had him removed from the company's leadership. Still, Kilner said Truaxe was inspired by Leonard Lauder, heir to the cosmetics giant, and “in awe of the family approach Lauder has to business.”
The growth trajectory as a result of the partnership means the skincare company will be looking at “hyper expansion” in staffing in its newer markets including India, the United Arab Emirates and Malaysia, Kilner added. Estee Lauder said since its initial investment in June 2017, Deciem has grown rapidly, achieving net sales for the 12 months ended Jan. 31, 2021, of about US$460 million.
I liked supporting a Canadian company, this is disappointing
EsteeLauder Buying my favourite skincare company Deciem is not good news. Now the company will no longer be Canadian. Which means so long Deciem! I used to love MAC in the beginning but EsteeLauder bought them too so there went the Canadian factor.