The American group Estée Lauder, a specialist in the cosmetics and beauty sector, has just completed the acquisition of the DECIEM group. Among other things, the company becomes the owner of The Ordinary brand.
Cosmetics giant Estée Lauder has announced the final acquisition of Canada’s DECIEM Beauty Group. The news comes after the two companies had been working together for several years. The Estée Lauder Companies had already invested in the Canadian company in 2017, before becoming a majority shareholder in 2021. At the time, the conglomerate announced its intention to acquire DECIEM outright by 2024.
This is now a done deal, as Estée Lauder confirmed on Monday 3 May. The American group thus becomes the owner of several increasingly popular cosmetics brands, such as The Ordinary, a dazzlingly successful label favoured by Generation Z. This is a highly strategic acquisition for the beauty giant, as the group’s president and CEO, Fabrizio Freda, explains: “We are incredibly proud of what DECIEM is achieving. In our seven years of partnership, DECIEM has grown impressively while pursuing its core mission of reimagining effective, high-quality skincare for today’s diverse and sophisticated consumers. With a highly engaged audience among Millennials and Generation Z, DECIEM is helping to strategically expand our skincare portfolio, and we believe there are many more exciting growth opportunities to come.”
Science in the service of beauty
Founded in 2013 by Brandon Truaxe, who passed away four years ago, DECIEM was born out of his desire to rethink cosmetics through a disruptive approach. Now run by Nicola Kilner and Jesper Rasmussen, the group is continuing in this vein with a focus on innovation. In addition to The Ordinary, the company owns Niod, a brand of beauty products with complex formulas, and Avestan, which operates in the perfumery market. DECIEM is headquartered in Toronto, Canada, and houses five in-house laboratories.
By 2021, DECIEM will have sales of $460 million.
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Restructuring for Estée Lauder
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Featured Photo : © The Ordinary
