(CNN) Brandon Truaxe, the founder of Canadian skincare company Deciem, has died at the age of 40, the firm announced in an Instagram post.

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."

The Estée Lauder Companies, an investor in Deciem since 2017, said in a statement: "Truaxe was a true genius, and we are incredibly saddened by the news of his passing ... he positively impacted millions of people around the world with his creativity, brilliance and innovation. This is a profound loss for us all."

The Deciem store in London's Covent Garden is one of over 30 stores worldwide.

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