The Ordinary's parent company to raise prices due to rising costs

Canadian-based DECIEM Beauty Group, which owns a number of cult skincare brands including The Ordinary, has announced that it is raising prices "for some of its products" starting 1 February.

The company said that it had raise prices to sustain its business, but that it wanted to tell its consumers in advance so they could take the opportunity to stock up on products at their current price over the next two weeks.

Since it was launched in 2013 DECIEM had kept its pricing consistent but said that a number of factors, including an increase in the cost of raw ingredients, packaging and shipping had influenced its decision to keep the price hikes to a "minimum".

According to the company, the cost of production and making products more environmentally friendly also has increased. DECIEM also said it wanted to support its large workforce as the cost of living rises.

DECIEM said: "The early days of a start-up are fun, they are also messy. Our pricing inconsistency across markets is a reflection of this beautiful mess. Now that we’re growing up, we need to fix this. We need to make things more fair.

"We are forever committed to pricing our products with integrity and hope you see this advanced communication as a marker of our continued dedication to being transparent with you."

The Estée Lauder Companies (ELC) increased its stake in DECIEM from 29% to 76% last year. Commenting on the deal, ELC president and Chief Executive Officer Fabrizio Freda said: “Over the last four years, we have built a truly special long-term partnership with the incredible DECIEM team, and we are excited for what the future holds.