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E.l.f. Puts Premium On ‘Clean Beauty’ With First Strategic Acquisition: W3ll People

Executive Summary

W3ll People is expected to add a relatively modest $7m to e.l.f. Beauty’s fiscal 2021 top line, but the brand has “major white space” opportunities, including at Target, e.l.f.’s longest-standing customer. Further, its plant-based product line includes 40 “EWG Verified” products, reflecting expertise e.l.f. is eager to tap.

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