ELC has closed the previously announced deal to expand its investment in the company behind fast-growing skin care brands The Ordinary and NIOD
NEW YORK -Wednesday 19 May 2021 [ AETOS Wire ]
(BUSINESS WIRE)-- The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has completed the first phase of increasing its ownership in DECIEM Beauty Group Inc. (“DECIEM”), the Canadian-based, vertically integrated, multi-brand company. The Estée Lauder Companies (“ELC”) 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 is an industry disruptor with a consumer-focused approach. It 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, 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 with impressive community- and referral-driven buzz reflecting a deep connection with its global consumer base of skin care devotees.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. ELC’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, Tommy Hilfiger, M·A·C, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin Paris, TOM FORD BEAUTY, Smashbox, Ermenegildo Zegna, AERIN, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, BECCA, Too Faced, Dr. Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210518006088/en/
Permalink : https://www.aetoswire.com/news/the-esteacutee-lauder-companies-increases-ownership-in-deciem/en