Estée Lauder has purchased a minority stake in Deciem – the fast growing company behind 10 brands including The Ordinary and NIOD.
Founded in Ontario in 2013 by Brandon Truaxe, Deceim’s “innovative multi-brand strategy” is propelled by a vertically integrated structure – with its own laboratory, manufacturing, e-commerce sites, retail stores and marketing infrastructure – that enables it “to rapidly identify opportunities, create and incubate new brands, and deliver quality, much-sought-after products”.
Boasting a strong following among millennials and other consumers seeking “functional beauty” grounded in science, Deciem offers a broad range of products through its own multi-brand stores, department stores, e-commerce, TV shopping networks and select retailers, primarily in the US, UK, and Canada.
The company launched into Australia in late 2015 with The Chemistry Brand and Hylamide in Priceline stores and then expanded into Myer stores, ry.com.au and adorebeauty.com.au before opening its Deciem The Abnormal Beauty Company stores in Sydney and Melbourne in January this year.
It has now begun moving into the local salon market – Made by Self in Melbourne stocks NIOD while Melanie Grant (Sydney and Melbourne) has just confirmed that it will be stocking both NIOD and The Ordinary soon.
Deciem Australia PR ambassador Florence Orton said the company would love to expand its salon and clinic offering in Australia “as long as it is the right fit”.
“We are currently positioned with the best of the best so would love to explore the salon market further and see who is out there and what our brands can offer their customers.”
Announcing its investment in Deciem, Fabrizio Freda, the president and CEO of The Estée Lauder Companies Inc, said the company looked forward to engaging with the Deciem team and supporting “their global growth aspirations”.
“In four short years, Brandon Truaxe and Nicola Kilner [the joint CEOs] have established, in Deciem, a powerful engine of innovation and growth,” he said.
“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.”
Equally effusive in his praise of Deciem, Estée Lauder executive chairman William Lauder described the company as “a new kind of beauty company that is well-positioned to create a new generation of successful beauty brands”.
“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.”
Meanwhile Brandon said he was “truly honoured, humbled, excited and emotional to have the support of such a remarkable partner on our path to driving innovation in beauty.”
“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.”