Brandon Truaxe, the controversial and enigmatic founder of Deciem, the upstart Canadian company behind the hugely popular ‘The Ordinary’ skin care line, has died.
Two sources told CBC News Monday that Truaxe died over the weekend. A company memo informed employees of the news Monday morning.
Truaxe founded Deciem in 2013, dubbing it The Abnormal Beauty company.
It quickly became one of the most disruptive in the cosmetic industry, mainly because of its low prices, skyrocketing sales, and customer loyalty.
Truaxe was also known for outlandish social media posts that prompted some to question if they were all a marketing stunt.
In October, Truaxe was ousted as chief executive of Deciem after the company’s largest shareholder, Estée Lauder, sought an injunction in an Ontario court.
The move came after Truaxe announced in one of those videos that he was closing all of Deciem’s stores due to what he said was financial wrongdoing at the company.
Since then, his Instagram account has posted a series of erratic video posts, including one that appears to have been taken at some point over this past weekend.
Brandon Truaxe, the founder of Toronto-based Deciem Beauty Group, has died, according to a source close to the company.
“All offices, warehouses, factories and stores please close today and take the time to cry with sadness, smile at the good times we had, reflect on what his genius built and hug your loved ones that little harder,” wrote Deciem CEO Nicola Kilner to the company’s employees on Monday.
“We are all in disbelief and shock but I will be in touch again very soon,” Ms. Kilner wrote. A spokesperson for the company was not immediately available for comment.
Mr. Truaxe, a 40-year-old former computer scientist who studied at the University of Waterloo, founded Deciem in 2013. The company launched 10 skincare and beauty brands, and quickly developed a cult following, especially after debuting The Ordinary line in 2016. Deciem priced The Ordinary to undercut competing brands (the skincare industry is notorious for steep markups) and instead invested less in traditional marketing, focusing on social media to reach customers.
After the success of The Ordinary, Mr. Truaxe developed a reputation as a disrupter and a savvy marketer. Estée Lauder Cos. Inc. purchased a minority stake in the company in June 2017. Deciem has roughly 30 stores around the world, including 10 in Canada.
Last year, however, company officials and investors became concerned over Mr. Truaxe’s mental health and suspected drug use. He made numerous erratic postings to Deciem’s corporate Instagram account, prompting confusion from customers. He also fired Ms. Kilner from her role as co-CEO without explanation, only to rehire her a few months later.
In October, Mr. Truaxe posted a video to Deciem’s Instagram account ordering all operations shut down, and sent a company-wide email threatening to fire anyone who didn’t comply. He also accused nearly everyone at Deciem of being involved in “major criminal activity.” Deciem’s stores were closed for about 11 days.
During that time, lawyers for Estée Lauder went to the Ontario Superior Court of Justice and successfully had Mr. Truaxe removed from his role as CEO and from the board of directors. (“He has essentially lit the company on fire,” one lawyer told the court.) Mr. Truaxe did not appear in court, nor did he hire a lawyer.
Ms. Kilner, who was recruited by Mr. Truaxe to help launch Deciem, was appointed sole CEO. Since then, she has sought to restore order to Deciem, continuing with plans to open eight more stores this year and launch a line of products for babies under a new brand. “I’m really putting the focus back on making our people feel valued,” she told the Globe and Mail in December. “In the past, it’s something we weren’t as good at.”
Mr. Truaxe continued to post erratic videos to his personal Instagram account over the next few months, including the time he spent involuntarily committed to a hospital in the U.K. He spoke of hiring lawyers to challenge the court order that ousted him from Deciem, though he never did. Many of his posts were made from hotel rooms in Europe and New York, where he appeared to be alone.
He posted four videos over the weekend from his penthouse in Toronto’s Distillery District, saying he had been drinking mezcal, a Mexican liquor. Many commenters expressed concern for his well-being.
We will update this developing story as more information becomes available.