Estée Lauder ups stake in Deciem

The Estée Lauder Companies (ELC) has increased its 29 percent stake in Canadian-based multi-brand group Deciem to a majority stake of 76 percent.

ELC said it has agreed to purchase the remaining interests after a three-year period “at a price that will be determined based on the future performance of Deciem”.

Deciem was founded in 2013 by the late Brandon Truaxe along with Pasquale Cusano, and current CEO Nicola Kilner, who will retain her position at the helm of the business.

The group currently owns six brands: The Ordinary, Niod, Hylamide, The Chemistry Brand, Hif and Loopha.