Estée Lauder acquires stake in Canadian cosmetics group Deciem
Estée Lauder has acquired a stake in Canadian cosmetics group Deciem. The US cosmetics giant has not disclosed the amount of the transaction, but emphasised how Deciem's integrated organisation, with its own laboratories, production sites, e-stores, brick-and-mortar stores and marketing department, allows the Canadian group to quickly identify market opportunities and act as a real brand incubator.
Founded in 2013 in Toronto by Brandon Truaxe, Deciem has already launched ten brands, including The Ordinary and Niod, and is primarily present in the USA, the UK and Canada.
Through Deciem, Estée Lauder is edging closer to the Millennials target group, highly coveted by beauty brands. In the third quarter of its non-standard fiscal year 2017, Estée Lauder generated a revenue of $2.857 billion, equivalent to an 8% growth (+9% at constant exchange rates).
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