The Estée Lauder Companies has entered into an agreement to increase its investment in the Canadian-based, vertically integrated, multi-brand company, DECIEM Beauty Group Inc. (“DECIEM”) from approximately 29 percent to approximately 76 percent.
DECIEM: Consumer-focused Approach
“The Abnormal Beauty Company”, DECIEM is an industry disruptor with a consumer-focused approach. DECIEM’s portfolio currently encompasses six brands, including The Ordinary, an internationally popular skin care brand with impressive community- and referral-driven buzz reflecting a deep connection with its global consumer base of skin care devotees.
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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 Fabrizio Freda, president and chief executive officer of The Estée Lauder Companies Inc. “
DECIEM is an exceptional company. Nicola and her team have built and cultivated authentic brands with highly effective, must-have products using a vertically integrated model, and have fostered a uniquely transparent and engaging communication style. The company’s hero products, desirable innovation, and digital- and consumer-first high-touch approach have been instrumental to its success.”
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Brandon dreamed of ELC being the forever home for DECIEM, and we are truly humbled to achieve his vision today,” said Nicola Kilner, co-founder. “
Prudvi, Stephen, 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."
Since ELC’s initial investment in June 2017, DECIEM has grown rapidly, achieving net sales for the 12 months ended 31 January 2021, of approximately USD 460 million. The acquisition is subject to certain conditions, including regulatory approvals and is expected to close in the quarter ending 30 June 2021.
Source: Estée Lauder Companies