Cosmetics producer Estée Lauder Companies has paid an undisclosed amount to increase its stake in Canada-based beauty brand owner Deciem from 29% to 76%.
Founded in 2013, Deciem is a vertically-integrated company that oversees six beauty brands including skincare brands The Ordinary, Niod and Hylamide, selling them through its own online portal and brick-and-mortar stores in the US, UK and Canada.
The company provides users with details of formulations and prices products at a point it claims is more reasonable than competitors, generating $460m in sales in the year ending January 2021. Estée Lauder had acquired its initial stake in 2017.
Fabrizio Freda, president and CEO of Estée Lauder Companies, said: “[Co-founder and CEO Nicola Kilner] and her team have built and cultivated authentic brands with highly effective, must-have products using a vertically integrated model, and have fostered a uniquely transparent and engaging communication style.
“The company’s hero products, desirable innovation and digital and consumer-first high-touch approach have been instrumental to its success.”
