The founder of skin care The Ordinary, Brandon Truaxe, announced earlier this week he would close the beauty business for approximately two months
Brandon Truaxe (left) and co-CEO Nicola Kilner
Estée Lauder Companies (ELC), the minority stakeholder of Deciem, has issued a statement following news that the skin care company closing many of its stores.
Deciem founder Brandon Truaxe announced via Instagram that he would temporarily close all of its operations, except in Mexico.
ELC told Cosmetics Business: "The Estée Lauder Companies is a minority investor in Deciem, and, as such, we do not control the company’s operations, social media or personnel decisions.
"We are deeply concerned by the material that has recently been posted on social media and will defend our rights as a minority investor."
In July 2017, ELC acquired a minority stake in Deciem. Commenting at time on the original deal in an open letter to . . .
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