Estée Lauder to Shutter Rodin Olio Lusso Operations
Women s Wear Daily (WWD) 3 hrs ago Allison Collins
The Estée Lauder Cos. is winding down operations at Rodin Olio Lusso, the skin care business it acquired from model and stylist Linda Rodin in 2014.
A spokeswoman for Lauder said the brand will close down e-commerce operations on April 19. Retail partners will sell through their inventory, and won’t be restocked.
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In October, Rodin will release a capsule collection under Jo Malone London. Some of the Rodin product formulations may migrate and be produced under Jo Malone London.
Rodin Olio Lusso has been best known for its facial oils, but also made body care and makeup products. Rodin founded the business in 2004, and left the company a few years after Lauder acquired it.
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Matt Granite had been working for years as a consumer journalist filming segments that were syndicated on American television stations and sharing additional videos on his YouTube channel, The Deal Guy.
In 2017, his style of homespun showmanship caught the attention of Amazon, and the company began flying him to New York every few months to record videos that would often run on its website around shopping events like back-to-school or Prime Day. He started experimenting with remote shows in 2019, so when the coronavirus pandemic hit he was somewhat ready to turn the basement of his home in Toronto into a studio.
Estée Lauder to pay $1-billion for controlling stake in Toronto skin care company Deciem Beauty Group theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
EXCLUSIVE: In Largest Deal Yet, Estée Lauder to Acquire Deciem at $2.2B Valuation
Women s Wear Daily (WWD) 2/23/2021 Allison Collins
The Estée Lauder Cos. Inc. has agreed to buy a majority stake in Deciem, the parent company of popular skin care brand The Ordinary, at a $2.2 billion valuation.
Lauder owns a 29 percent stake in Deciem after investing in 2017. Under the terms of the deal, Lauder is paying $1 billion to increase its ownership position to 76 percent, valuing the company at $2.2 billion. In three years, Lauder plans to buy the rest of the company at a to-be-determined valuation.
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