Estée Lauder made an announcement overnight that it has invested in the fast-growing beauty brand .
For those not entirely familiar with the name, here's a quick rundown:
Founded in 2013 by Toronto native Brandon Truaxe, who leads the company alongside Co-CEO Nicola Kilner, DECIEM has a multiple brands that sit under the one umbrella, with its own laboratory, manufacturing, e-commerce sites and retail stores. It has a diverse range of fans, including a strong millennial following, due to offering a broad range of products at varying price points.
The company has launched ten brands to date including The Ordinary which is a collection of skin care treatments offered at extremely accessible prices. Earlier this year, one of The Ordinary foundations had a 25,000 strong wait list after new shades were launched.
Estée Lauder President and CEO Fabrizio Freda says of the partnership: “In four short years, Brandon and Nicola have established, in DECIEM, a powerful engine of innovation and growth…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.”
Terms of the investment have not been disclosed.
Stay tuned to Elisabeth King's weekly business news column to find out more on Monday.
