The story
Aveda was founded by Horst Rechelbacher in 1978. Aveda is part of Estée Lauder Companies Inc., based in New York. Rechelbacher sold Aveda to Estée Lauder Companies, Inc., in 1997 for $300 million, although Aveda continues to be run as a semi-autonomous entity. Upon selling the product to Estee Lauder Companies Inc., Horst also sold off the chain of salons to his successor, David Wagner. The salons, formerly known as Horst and Friends, were renamed Juut Salonspa.
In 2004, Aveda was awarded the prestigious Corporate Achievement Award at the Smithsonian Cooper-Hewitt National Design Museum.
Aveda was one of the first beauty companies to endorse a set of principles designed to encourage greater environmental responsibility in business, known as The Ceres Principles (originally named The Valdez Principles).
From Wikipedia’s article on Aveda, shared under CC BY-SA 4.0.4