Minority shareholder Estee Lauder seemingly saved the company after successfully arguing before a judge that that Truaxe’s behaviour has caused “irreparable harm to Deciem’s business, and chaos and confusion for Deciem’s employees, customers, consumers, suppliers, landlords and other stakeholders,” reports The Cut.
Nicola Kilner has been placed as co-CEO in the interim. WWD has confirmed that the stores will be up and running again shortly. According to the outlet, Truaxe took over the brand's social media in January and has since used it to post complicated and confusing messages to customers, as well as to fire employees and sever business ties.
“We make beautiful products. But the reality is that before beautiful products, we are a team of beautiful humans with deep hearts invested so heavily and lovingly in Deciem. This love is what makes weeks like the last one so difficult,” a statement from the brand began.
It continued, “Following the court ruling on Friday we have now reopened all stores, offices, factories and warehouses. Together, we are committed to serving our customers, partners and everyone involved in this journey to the best of our humble abilities, and we are ready for the next part of our story to begin.”
