Estee Lauder Companies To Make ‘Abnormal Beauty’ Its Own
The beauty titan will increase its stake in DECIEM to 76% in a deal valuating The Ordinary skin-care owner at $2.2bn. Remaining interests will be acquired after three years, according to the announcement.
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The Estee Lauder Companies-backed startup has been highly successful despite erratic and, in the eyes of many, concerning behavior from founder Brandon Truaxe. In his latest – and supposedly last – Instagram post for the brand, Truaxe says DECIEM will be shutting down operations and renews claims about corruption within the organization.
Getting younger consumers to embrace skin care with the same enthusiasm they bring to makeup has been a challenge for Lauder. The firm's investment in DECIEM gives it a stake in the "abnormal" startup's umbrella of largely skin-care brands, which have given rise to new conversations and levels of excitement online among millennials and those who think like them.
The Estee Lauder Companies, L’Oreal, J&J, Unilever and subscription beauty box firm BFA Industries are among companies taking action to promote racial equity within their organizations and beyond.