Estée Lauder Companies (ELC) is set to acquire a majority stake in The Ordinary's maker, DECIEM, with a $2.2 billion valuation.
The move marks ELC's biggest deal yet, taking its initial investment in the skincare company from 29% to 76%, within three years.
"Over the last four years, we have built a truly special long-term partnership with the incredible DECIEM team, and we are excited for what the future holds,” said ELC president and CEO, Fabrizio Freda.
Known as “The Abnormal Beauty Company”, DECIEM 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 and now CEO, Nicola Kilner.
"Brandon dreamed of ELC being the forever home for DECIEM, and we are truly humbled to achieve his vision today,” said Kilner.
"Prudvi [CSO], Stephen [COO], our team and I will continue to build on Brandon's creation and we thank ELC for their continued commitment to our vision and future."
