E.l.f. Hoists 2023 Full-Year Sales Guidance As Value Prices Attract New Customers
E.l.f. Beauty’s sales grew 26% to $122.6m in the fiscal 2023 first quarter, leading the Oakland, CA-based firm to increase full-year projections. According to company leadership, e.l.f. is capturing market share at a rapid clip while expanding distribution, notably in pharmacy retail.
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E.l.f. Skin, now the fourth brand in the firm’s portfolio alongside e.l.f. Beauty, W3ll People, and Keys Soulcare, includes new Blemish Breakthrough and Pure Skin lines of clean, kind products priced at $14 or less.
The Gen Z-beloved maker of prestige-inspired cosmetics and skin care at accessible prices has been experiencing strong sales growth in Target stores, increased business online, and remains confident in its prospects even after recently raising products on two-thirds of its portfolio in response to inflationary pressures.