Deciem stores have opened their doors for business again following a roller-coaster week which saw their sudden closure.
Earlier last week, CEO and founder Brandon Truaxe made accusations of criminal activity within the company and announced on Instagram that he was closing all stores until further notice, leaving thousands of customers and employees blindsided.
Estée Lauder, who owns an approximate 28% stake in the company, quickly filed an application with the Ontario Superior Court of Justice to have the founder removed from his post. On October 12, the court ruled in Estée Lauder's favour and Truaxe was removed from his position on an interim basis.
Also in court, Nicola Kilner was appointed as Truaxe's replacement as Deciem's CEO. Kilner was formerly Deciem's co-CEO until February of this year, when Truaxe unilaterally removed her from the company before bringing her back to the brand in July.
As of October 15, Deciem stores have reopened and the website has been restored. Truaxe still remains in control of Deciem's official Instagram account and has continued to post various articles, emails, and pictures.
EDIT: As of October 16, the Deciem official Instagram account seems to be in control of the company, and most of Brandon Truaxe's recent posts have been removed.
Are you a fan of Deciem products? Has this developing story impacted your support of the brand? Let us know your thoughts in the comments!