Whether you've been a skincare fanatic for years, or you've just jumped onto the craze, The Ordinary seems to be the brand that pops up in everyone's head as of late.
Estée Lauder's $1 billion purchase for majority stake of DECIEM, The Ordinary's parent company, was announced last week. Estée Lauder Companies Inc. will increase its investment in DECIEM from 29 percent to 76 percent.
Estée Lauder has been investing in DECIEM since June 2017.
"Ove 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," expressed Fabrizio Freda, President and Chief Executive Officer at Estée Lauder.
DECIEM was founded in 2013 by Brandon Truaxe. DECIEM, known as "the abnormal beauty company" aims to raise transparency within the beauty industry. The Ordinary products have been their most popular brand, with many high profile celebrities praising the brand for its innovations. It's affordability and broad appeal makes it successful. However, The Ordinary's success is mainly due to its positive word-of-mouth, which can only be achieved with formulations that are genuinely loved by all.
Being a part of the Estée Lauder family will open up a lot of new opportunities for DECIEM. This acquisition allows DECIEM to have access to Estée Lauder's resources to grow their brands - particularly in global distribution and supply chain.