The Estée Lauder Companies Inc. has announced the successful completion of its acquisition of Deciem Beauty Group Inc., the Canadian-based multi-brand company known as “The Abnormal Beauty Company.”
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ELC’s Deciem acquisition marks a significant milestone in Estée Lauder’s strategic expansion efforts and further strengthens its position in the global skin care market.
ELC’s journey with Deciem, whose flagship brand is The Ordinary, began in 2017 when it first invested in the company. Over the years, ELC increased its stake and became the majority owner in 2021. Following a three-year period, ELC exercised its option to purchase the remaining interests in Deciem. On May 31, 2024, ELC closed the deal, utilising approximately USD860 million in cash.
The total investment, net of cash, amounted to an estimated USD1.7 billion, distributed over three tranches.
The Ordinary, one of Deciem’s most successful brands, has become a significant player in ELC’s portfolio of scaling brands, generating net sales between USD500 million and USD1 billion.
With ELC’s international network, The Ordinary has expanded its market presence in recent years, launching in key regions such as India, the Middle East, and South Africa. Prior to that, The Ordinary gained a devoted following as an industry disruptor, ranking among top skin care brands in Canada, the United States, France, Germany and the United Kingdom.
Founded in 2013 by the late Brandon Truaxe, Deciem brings not only The Ordinary but also NIOD, a pioneer in tech-led skin science, and Avestan, a fragrance brand, to ELC. Headquartered in Toronto, Canada, Deciem operates five in-house labs. Co-Founder and CEO Nicola Kilner and Jesper Rasmussen, Global Senior Vice President and General Manager, lead the company.
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“Deciem is an exceptional company with authentic brands, highly effective must-have products, and a uniquely transparent and engaging relationship with its devoted consumers around the world,” said Stéphane de La Faverie, executive group president, ELC. “We have enjoyed a fantastic partnership over the last seven years, and we are thrilled to continue our journey together.”