Canadian beauty brand Deciem, the umbrella brand which covers The Ordinary, Niod, and Hylamide, appears to have shut down following an announcement from founder Brandon Truaxe on Instagram several days ago. All Deciem stories now appear to be closed, and the website is no longer accessible.
Truaxe’s rambling video is the latest in a string of controversial posts shared via Deciem’s and his own Instagram accounts, causing concerns for his wellbeing. He cited “major criminal activity” and financial crimes for the closure, though didn’t provide specific details to support his claims. Estée Lauder, which acquired a stake in Deciem last year, gave a statement to the BBC: “We are deeply concerned by the material that has recently been posted on social media and will defend our rights as a minority investor.”
The brand has a devoted following, renowned for its skin-tellectual products based around key active ingredients. The Ordinary, in particular, has reached cult status, with its foundation in particular selling out almost immediately after it launched. Deciem was projected to earn US$300m (1.1 billion AED) in sales in 2018.
Will the brand be back? In the video, Truaxe said: “This is the final post of Deciem, which we will shut down all operations until further notice, which will be about two months. Please take me seriously.” Products remain available via stockists such as Cult Beauty and Feel Unique, but the future of the company after that is, unfortunately, unknown.