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Will take remaining interest in second phase of the deal.
February 23, 2021
By: Christine Esposito
Editor-in-Chief
The Estée Lauder Companies Inc. likes The Ordinary. The beauty giant has entered into an agreement to increase its investment in the Canadian-based DECIEM Beauty Group Inc. from approximately 29% to approximately 76%. ELC has agreed to purchase the remaining interests after a three-year period. Since ELC’s initial investment in June 2017, DECIEM has grown rapidly, achieving net sales for the 12 months ended January 31, 2021 of approximately $460 million. The company’s The Ordinary brand is...
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