Deciem Founder Brandon Truaxe posted a video to the company’s Instagram account yesterday purporting to shut down the company with immediate effect and insinuating that it had been involved in some form of financial impropriety.
“This is the final post of Deciem. We will shut down all operation until further notice, which is about two months,” Truaxe says in the video. “Please take me seriously… Almost everyone at Deciem has been involved in a major criminal activity.”
The caption that accompanies the post is largely unintelligible but implicates several high profile companies and celebrities, including but not limited to the Estee Lauder Companies, LVMH, Boots, It Cosmetics, Tom Ford, Brad Pitt and George Clooney.
Several press reports suggested that the company’s website was down following the post, and the Deciem site does appear to be a red holding page at the time of going to press. However, Global Cosmetics News has tested The Ordinary site this morning and it appears to be working. Many of the company’s stores were closed on Tuesday following the post late Monday. Cosmopolitan reports that a company email has mandated all stores, except the Spitalfields branch in East London to close, and not reopen until February, 2019.
“We are deeply concerned by the material that has recently been posted on social media and will defend our rights as a minority investor,” said The Estee Lauder Companies in a statement provided to the BBC. No media company has yet succeeded in reaching Truaxe or a spokesperson for Deciem.