E.l.f. Beauty reported its 17th consecutive quarter of net sales growth, with a 78% YoY increase. The company's gross margin also increased in Q4, helped by pricing and lower transportation costs. How? The brand's "innovation franchises" (namely Halo Glow, Putty, Power Grip and Camo) have given the company a competitive advantage, particularly among Gen Z; E.l.f. recently went viral on TikTok for its 'dupes' of other viral TikTok products, garnering almost 15 billion views in their latest TikTok hashtag challenge.
The brand has also increased it's brick-and-mortar shelf space at Target, Walmart and CVS, and will place more products at Ulta Beauty, CVS and Walgreens in Fall 2023. “Our value proposition, powerhouse innovation and disruptive marketing engine continue to fuel our performance. (And ) we have a unique ability to deliver holy grails, taking inspiration from our community and the best products in prestige and bringing them to the market at extraordinary value,” said Chairman & CEO Tarang Amin.
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