Deciem Shuts Down Three Labels To Focus On The Ordinary
Deciem has announced that it will be shutting down its subsidiaries HIF, Hylamide, Abnomaly and The Chemistry Brand, to focus on its most coveted brand, The Ordinary.
“We are refocusing our attention on science-first functional skincare … This new approach will power us to do more of what you love while allowing us the space to innovate with new brands in the future,” said Deciem in an Instagram post.
The company will continue to sell the three brands’ products until stocks run out.
The news follows Estée Lauder Company’s (ELC) move to acquire Deciem back in early 2021. ELC increased its investment from approximately 29% to roughly 76& in its first phase, with plans to officially acquire the company after three years.
“Over the last four years, we have built a truly special long-term partnership with the incredible DECIEM team, and we are excited for what the future holds,” said Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder Companies Inc., back in February 2021.
“Deciem is an exceptional company. Nicola 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.”
Deciem was founded in 2013 by the late Brandon Truaxe, who aimed to bring authenticity and transparency to the beauty industry. Truaxe developed the company alongside founder Pasquale Cusano and co-founder Nicola Kilner, who now serves as the CEO at Deciem.
Originally published at https://retailbum.com on April 6, 2022.
