The Estée Lauder Companies (ELC) had a mini-spending spree in 2014, acquiring niche fragrance player Le Labo and luxury skincare brand Rodin Olio Lusso in quick succession.
The multinational entered the mass market in March with its US$1 billion majority stake in Deciem, the parent company of cult bestseller The Ordinary. But some of the smaller brands in its prestige portfolio are being viewed as surplus to requirements as the prestige beauty market has plummeted in double digits in key countries such as the US, the UK, Canada, France and Germany.
Lauder announced the closure of Becca, the Australian-founded makeup brand, last year. Now it’s the turn of Rodin Olio Lusso, which will close its e-commerce business on April 19th.
Founded by US model and stylist, Linda Rodin, the brand was noted for its Luxury Face Oil, mainly sold in Australia through Mecca.
The 17 year old company also offered makeup and fragrance and it’s not quite the end of the road. In October, Rodin will release a capsule collection under the Jo Malone label and some of its product formulations may be taken up by the best-selling fragrance brand.
At the time of the Rodin Olio Lusso buyout, Lauder had hopes of its potential as a high-growth global skincare brand. Linda Rodin continued to oversee the brand’s manufacturing for the first few years but left in 2018.