Founder Brandon Truaxe described as the “quintessential founder and entrepreneur” willing to take risks
The Estée Lauder Companies has acquired a minority stake in DECIEM, the parent company of brands including The Ordinary, NIOD and Fountain.
DECIEM, which prides itself for an ‘Abnormal Beauty Company', was founded by Brandon Truaxe in Toronto, Canada, in 2013 and has developed and launched ten market-disrupting beauty brands.
Today the company is run by Truaxe and Co-CEO Nicola Kilner. Truaxe said: “It’s nearly unthinkable for a conglomerate to embrace a disruptive mindset like that of DECIEM – and yet we have felt like family from the very first day we met the loving team at The Estée Lauder Companies.
“I am so truly honored, humbled, excited and emotional to have the support of such a remarkable partner on our path to driving innovation in beauty.”
Meanwhile, Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder Companies, added: “In four short years, Brandon and Nicola have established, in DECIEM, a powerful engine of innovation and growth.
“Through its unique business model, DECIEM has produced some of the most creative independent brands on the market, capturing the passion and trust of devoted fans around the world – and they are just getting started. We look forward to engaging with the team and supporting their global growth aspirations.”
Creating a brand is like giving birth to a baby. It's a very beautiful and soulful process
Other DECIEM brands include Hylamide, The Chemistry Brand, Stemm, HIF, White RX, Loopha and AB Crew.
In a previous Cosmetics Business interview, Truaxe said: "Creating a brand is like giving birth to a baby. It's a very beautiful and soulful process and we would want to be a part of it from day one."
William P Lauder, Executive Chairman of The Estée Lauder Companies, said: “Brandon is the quintessential founder and entrepreneur who, as Estée Lauder exemplified, is willing to take risks, push the boundaries of beauty, and fearlessly pursue a bold vision. We are excited by DECIEM’s great potential and the opportunity to be part of its future.”