D. Petruzzi
Research expert covering Cosmetics, Personal Care, Health & Hygiene industries.
e.l.f. Beauty Inc. - statistics & facts
e.l.f. Beauty Inc. is a U.S. personal care product manufacturer founded in 2004 and headquartered in Oakland, CA. Despite having been on the market for quite a short amount of time, e.l.f. Beauty has recently established itself as one of the most promising cosmetics companies, especially among younger generations, and it is expected to become even more influential in the next years, thanks to its social media presence and dedication to the manufacturing of products that are cruelty-free, "clean," and oftentimes even vegan.
“e.l.f.” stands for “eyes, lips, and face”, and it is also the name of one of e.l.f. Beauty Inc.’s brands, along with e.l.f. SKIN, Well People, and Keys Soulcare, a beauty brand created in collaboration with singer Alicia Keys. As of 2021, the company registered global net sales amounting to about 392.16 million U.S. dollars, and in the third quarter of its fiscal year 2023, it experienced a notable net sales growth of nearly 50 percent. In 2023, e.l.f. also made its advertising debut on TV, buying time during the Super Bowl LVII to promote its Power Grip Primer.
Testimony to this change is the forecast for the global cruelty-free make-up market, which is expected to reach a value of over 10 billion U.S. dollars by 2030. Interest in vegan personal care products is also rising, and more and more buyers are favoring certified products.
“e.l.f.” stands for “eyes, lips, and face”, and it is also the name of one of e.l.f. Beauty Inc.’s brands, along with e.l.f. SKIN, Well People, and Keys Soulcare, a beauty brand created in collaboration with singer Alicia Keys. As of 2021, the company registered global net sales amounting to about 392.16 million U.S. dollars, and in the third quarter of its fiscal year 2023, it experienced a notable net sales growth of nearly 50 percent. In 2023, e.l.f. also made its advertising debut on TV, buying time during the Super Bowl LVII to promote its Power Grip Primer.
The keys to e.l.f.’s popularity
In the United States, e.l.f. cosmetics is one of the most popular beauty brands, especially among Gen Z consumers, ranking as their leading make-up brand of choice. Brand awareness for e.l.f. in the United States is quite high, and its popularity continues to increase. The secret of its success, especially among younger consumers, lies in various marketing strategies, such as its e-commerce loyalty program and its wide presence on TikTok, developed through challenges, original songs, and hashtags. In 2021, the company’s advertising expenses reached a peak of about 41 million U.S. dollars, and in the following year, its brand Keys Soulcare was among the leading celebrity skincare brands by share of voice.Consumers’ demands have shifted... and e.l.f. Beauty is listening
Another key factor in the growing popularity of e.l.f. Beauty resides in the use of clean ingredients and the production of cruelty-free products, as well as in a wide selection of vegan options. As consumers’ needs and demands change, shifting the focus to sustainable and inclusive practices, beauty brands are demanded to do more.Testimony to this change is the forecast for the global cruelty-free make-up market, which is expected to reach a value of over 10 billion U.S. dollars by 2030. Interest in vegan personal care products is also rising, and more and more buyers are favoring certified products.
