E.l.f. Cosmetics Will Be ‘100% Clean’ Going Into 2022; Q2 Sales Up 27% To $92M
E.l.f.’s core consumer proposition continues to focus on quality, innovative products at accessible prices, but the company also has been working to strengthen its “clean” credentials, reformulating more than 350 SKUs in recent months to ensure that its namesake brand is “100% clean” by year-end.
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E.l.f. will raise prices by $1 across SKUs where it has the most pricing power, while maintaining its lowest-priced items where they are now, CEO Tarang Amin said during the firm’s fiscal 2022 third-quarter earnings call. The company raised guidance for the full year, now targeting net sales up to $379m.
Overall US makeup sales in the US were still lower in 2021 (to 4 December) compared with pre-pandemic figures, but a number of sub-categories showed marked improvement late in the year, according to a Jefferies Equity Research report. Notably, eye makeup sales rose 1.9% in the final weeks of the analyzed period.
A growing number of cosmetics companies are throwing out plastic packaging once and for all. Estee Lauder Companies and e.l.f. Cosmetics announce the latest in their transition to sustainable paper packaging, while Shiseido highlights its ocean conservation work.