This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/world-us-canada-45806254
The article has changed 3 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
Skincare brand Deciem shuts stores following online post by founder | Skincare brand Deciem shuts stores following online post by founder |
(about 17 hours later) | |
Toronto-based beauty brand Deciem has temporarily shut its stores following a shock announcement by its founder. | Toronto-based beauty brand Deciem has temporarily shut its stores following a shock announcement by its founder. |
Brandon Truaxe said in a video on Instagram that they were closing until further notice citing "major criminal activity". He did not give details. | Brandon Truaxe said in a video on Instagram that they were closing until further notice citing "major criminal activity". He did not give details. |
The company produces The Ordinary brand, which has become a global cult hit for its ingredients-focused and affordable skincare options. | The company produces The Ordinary brand, which has become a global cult hit for its ingredients-focused and affordable skincare options. |
It has stores in Canada, the US, the UK, and Australia. | It has stores in Canada, the US, the UK, and Australia. |
The company website shows many of the stores were closed on Tuesday following Mr Truaxe's rambling post on the brand's Instagram account about alleged "financial crimes and much other". | The company website shows many of the stores were closed on Tuesday following Mr Truaxe's rambling post on the brand's Instagram account about alleged "financial crimes and much other". |
The company was founded in Canada in 2013, launching a number of brands including The Ordinary. | The company was founded in Canada in 2013, launching a number of brands including The Ordinary. |
In 2017, beauty giant Estée Lauder acquired a stake in Deciem, citing its "consumer-centric focus that is already impacting the world of beauty". | In 2017, beauty giant Estée Lauder acquired a stake in Deciem, citing its "consumer-centric focus that is already impacting the world of beauty". |
In a statement to the BBC, Estée Lauder said as a minority investor, it does not control Deciem's operations, social media or personnel decisions. | |
"We are deeply concerned by the material that has recently been posted on social media and will defend our rights as a minority investor," it said. | |
Deciem has seen rapid international expansion and was projected to earn $300m (£228m) in sales in 2018. | Deciem has seen rapid international expansion and was projected to earn $300m (£228m) in sales in 2018. |
This latest upheaval is not the first disruption for the brand. | This latest upheaval is not the first disruption for the brand. |
Mr Truaxe fired his co-CEO in February, and the Instagram message announcing the temporary shutdown is the latest in a string of controversial online postings by the founder, who took over the social media account earlier this year. | Mr Truaxe fired his co-CEO in February, and the Instagram message announcing the temporary shutdown is the latest in a string of controversial online postings by the founder, who took over the social media account earlier this year. |
He has used the social platform to publicly sever ties with collaborators, engage sometimes aggressively with online commentators, and other behaviour that has concerned clients. | He has used the social platform to publicly sever ties with collaborators, engage sometimes aggressively with online commentators, and other behaviour that has concerned clients. |