On June 3, 2024, The Estée Lauder Companies Inc. (ELC), a global leader in prestige beauty, announced the completion of its acquisition of DECIEM Beauty Group Inc., a Canadian multi-brand company. The final transaction was closed on May 31, 2024, with ELC using cash on hand to purchase the remaining interests in DECIEM for approximately $860 million. This acquisition is the culmination of a partnership that began in 2017 when ELC first invested in DECIEM, later becoming the majority owner in 2021. The total investment by ELC in DECIEM amounts to an estimated $1.7 billion over three tranches. DECIEM, known as 'The Abnormal Beauty Company,' is recognized for its transparency in ingredients and its flagship brand, The Ordinary, which has achieved significant market presence in prestige...Show More

On June 3, 2024, The Estée Lauder Companies Inc. (ELC), a global leader in prestige beauty, announced the completion of its acquisition of DECIEM Beauty Group Inc., a Canadian multi-brand company. The final transaction was closed on May 31, 2024, with ELC using cash on hand to purchase the remaining interests in DECIEM for approximately $860 million. This acquisition is the culmination of a partnership that began in 2017 when ELC first invested in DECIEM, later becoming the majority owner in 2021. The total investment by ELC in DECIEM amounts to an estimated $1.7 billion over three tranches. DECIEM, known as 'The Abnormal Beauty Company,' is recognized for its transparency in ingredients and its flagship brand, The Ordinary, which has achieved significant market presence in prestige skin care. ELC's acquisition is expected to further expand its skin care portfolio and reach a broader global consumer base, particularly among millennial and Gen Z demographics. DECIEM has benefited from ELC's infrastructure since 2017, which has enabled it to grow its global consumer reach and increase profitability. The Ordinary, part of ELC's scaling brands, has seen expansion into new markets such as India, the Middle East, and South Africa. DECIEM was founded by the late Brandon Truaxe and is known for its commitment to authenticity and transparency in the beauty industry. The company is headquartered in Toronto, Canada, and will continue to be led by Co-Founder and CEO Nicola Kilner and Jesper Rasmussen, Global Senior Vice President and General Manager.