E.l.f. Facing Off Against Beauty Giants: Third Among Mass Market Brands As Sales Jump 78%
E.l.f. cosmetics climbed to No. 3 brand in US mass market cosmetics, up two slots from a year ago as it surpassed Revlon and CoverGirl. In its recent sales and earnings presentation, it announced sales in its fiscal 2023 fourth quarter jumped 78%.
You may also be interested in...
E.l.f. Beauty, Inc. will purchase LA-based Naturium skin care, a “thoughtfully formulated,” “high-performance” skin-care brand out of Los Angeles, for $355m from brand incubator The Center. Expected to close in September, the transaction will double e.l.f.’s skin-care business as a percentage of overall sales.
Oakland, CA-based e.l.f. Beauty is significantly increasing its full fiscal year 2023 sales estimate, predicting 38%-39% growth after third quarter sales soared 49% to reach $146.5m. CEO Tarang Amin discusses the white space opportunities contributing to a bullish outlook even beyond the fiscal year.
The maker of prestige-inspired cosmetics at value prices follows its TikTok viral success by teaming with Kathleen Belsten, aka Loserfruit, the second most-followed female gamer on the Amazon-owned livestreaming platform Twitch.