Truaxe launched the brand, best known for its affordable skincare line The Ordinary, in Toronto in 2013. Since then it has since expanded worldwide, with stores in the US, the UK, South Korea, Australia, Mexico and the Netherlands.
"Brandon, our founder and friend. You touched our hearts, inspired our minds and made us believe that anything is possible," a Monday post on Deciem's Instagram reads.
"Thank you for every laugh, every learning and every moment of your genius. Whilst we can't imagine a world without you, we promise to take care of each other and will work hard to continue your vision. May you finally be at peace."
Truaxe was removed as co-CEO of Deciem in October 2018, after his posts on the company's social media accounts became increasingly erratic.
"Brandon will always be the founder of Deciem," the company posted on Instagram in October. "We will take the passion and values he has instilled within us as we continue to grow the brands we have created with transparency, integrity, authenticity, function and design."
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