The Estée Lauder Companies Inc. announced that it has completed the first phase of increasing its ownership in Deciem Beauty Group Inc., the Canadian-based, vertically integrated, multi-brand company. The Estée Lauder Companies 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 was founded in 2013 by the late Brandon Truaxe. 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.
