06.16.17
As a focus on matching young consumers with innovative, authentic products speeds up, The Estée Lauder Companies Inc. (ELC) has announced that it has invested in an out-of-the box Canadian-based beauty company. DECIEM, which refers to itself as an "abnormal beauty company," is known as “a fast-growing, vertically integrated multi-brand company, driven by a consumer-centric focus that is already impacting the world of beauty.” Terms of the investment were not disclosed.
DECIEM was founded in 2013 in Toronto, Ontario by Brandon Truaxe, who leads the company alongside co-CEO Nicola Kilner. According to ELC, DECIEM’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 the company to rapidly identify opportunities, create and incubate new brands, and deliver quality, much-sought-after products.
The company has launched 10 brands to date – including “international cult favorite” The Ordinary, an evolving collection of skin care treatments offering familiar and effective ingredients at accessible prices, and NIOD, an ingredients-driven skincare brand focused on addressing the root causes of aging. DECIEM says they have a vibrant following among millennials and diverse consumers seeking “functional beauty” grounded in science. The company offers a broad range of products across price points through its own multi-brand stores, department stores, e-commerce, TV shopping networks and select retailers, primarily in the U.S., U.K., and Canada.
“In four short years, Brandon and Nicola have established, in DECIEM, a powerful engine of innovation and growth,” said Fabrizio Freda, president and chief executive officer of The Estée Lauder Companies Inc. “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.”
“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,” said Truaxe. “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.”
DECIEM was founded in 2013 in Toronto, Ontario by Brandon Truaxe, who leads the company alongside co-CEO Nicola Kilner. According to ELC, DECIEM’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 the company to rapidly identify opportunities, create and incubate new brands, and deliver quality, much-sought-after products.
The company has launched 10 brands to date – including “international cult favorite” The Ordinary, an evolving collection of skin care treatments offering familiar and effective ingredients at accessible prices, and NIOD, an ingredients-driven skincare brand focused on addressing the root causes of aging. DECIEM says they have a vibrant following among millennials and diverse consumers seeking “functional beauty” grounded in science. The company offers a broad range of products across price points through its own multi-brand stores, department stores, e-commerce, TV shopping networks and select retailers, primarily in the U.S., U.K., and Canada.
“In four short years, Brandon and Nicola have established, in DECIEM, a powerful engine of innovation and growth,” said Fabrizio Freda, president and chief executive officer of The Estée Lauder Companies Inc. “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.”
“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,” said Truaxe. “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.”
