Deciem founder Brandon Truaxe is shutting down the company for two months, according to a post on Instagram.
“This is the final post of Deciem, which we will shut down all operation until further notice, which is about two months,” Truaxe said in a video on Instagram. He did not immediately respond to a WWD request for comment, nor did co-chief executive officer Nicola Kilner, who rejoined the business in July.
“Please take me seriously…almost everyone at Deciem has been involved in a major criminal activity, which includes financial crimes,” Truaxe alleged on the social media platform. A representative for the Estée Lauder Cos., which invested in Deciem in 2017, was not immediately available for comment.
Over the course of this year, Truaxe and Deciem have gained attention for his erratic social media posts, which now span from normal company operations to allegations of criminal activity. During that time, though, business is said to have soared — as of July, Deciem was said to have about $300 million in sales, up from $140 million in December.
Deciem’s rise originally started with the products. Its hero brand, the Ordinary, makes products — like Retinol 0.2% in Squalane for $5.30 — that are priced much lower