Another huge deal has just taken place in the beauty space.

Per Reuters, it was announced by Estée Lauder Cos Inc (ELC) it’s struck a $1 billion deal with DECIEM, which is the parent company to 10 beauty brands including cult skincare brand The Ordinary.

DECIEM launched seven years ago in 2013, under the leadership of Brandon Truaxe, alongside co-founder and current CEO Nicola Kilner, with the intention to disrupt the beauty space becoming known as ‘The Abnormal Beauty Company’ focussed fully on its consumers.

ELC invested in DECIEM four years ago, and since then the brand has catapulted to worldwide fame, being hugely popular around the globe.

Discussing their venture with DECIEM, Fabrizio Freda, President and Chief Executive Officer of ELC, said that since 2017 a “truly special long-term partnership” has been built between the two.

READ: The real story behind the iconic beauty brand The Ordinary

“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,” he added. “The company’s hero products, desirable innovation, and digital- and consumer-first high-touch approach have been instrumental to its success.”

Kilner also added saying that from the beginning founder Brandon Truaxe had always believed ELC would be the “forever home” of DECIEM.

Last year, Kilner spoke with Emirates Woman in a regional-first interview for the brand to discuss the real story behind DECIEM and The Ordinary.

Kilner became CEO of DECIEM in 2018 after Truaxe had to step down, and just a few months later he tragically passed away.

However, since then she has made sure her friend’s legacy stays intact and is ensuring his vision for the brand stayed alive. “The things that absolutely must never change are the values that Brandon instilled in us,” Kilner told Emirates Woman. “The humility and playful spirit of our team is something that will always be at the heart of DECIEM.”

It’s an exciting new chapter in DECIEM’s incredible journey in the beauty space.

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Images: Supplied