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 recorded a sales decline of 10% in the fiscal 2022 fourth quarter, generally in line with revised guidance in May as new China lockdowns were impacting its business. Challenges in China and fragrance license terminations are expected to weigh heavily on fiscal 2023 first-quarter results as well, with improvements in Q2 and, ultimately, 7% to 9% organic growth for the year.
The Estee Lauder Companies’ outfit breaks down the cosmetic safety assessment process, the science of skin inflammation and sensitivity, and safe and effective use of highly searched ingredients including zinc, hyaluronic acid and retinol in a September report aimed at bringing clarity to conversations online.
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.