In 2024, e.l.f Beauty achieved $1 billion in annual sales. The popular makeup and skincare brand attributes this success to innovative campaign ideas, showcasing their commitment to prioritizing diversity, equity & inclusion to the beauty industry.
E.l.f. surpassed $1 billion in sales in the previous fiscal quarter (ending March 31) for the first time in company history. “Fiscal 2024 marked our strongest year of net sales growth on record, a continuation of the exceptional, consistent, category-leading growth we’ve delivered,” said Tarang Amin, Chairman and Chief Executive Officer of e.l.f. Beauty.
Earlier this month, e.l.f launched their “So Many Dicks” campaign, an initiative to outline statistics on inequality in boardrooms. As one of only four U.S. publicly traded companies with a board that’s two-thirds women and one-third diverse, this campaign points out the gender gaps in the professional industry. The campaign features bold headlines calling stats about current boards – and inviting others to learn about how diversity can drive profitability for everyone. The digital and print ads are running now through June 10 around the Financial District, including Fulton Street Station and The Oculus.
E.l.f also dove head first into a male dominated space, making themselves the first beauty brand to serve as a primary sponsor of an Indianapolis 500 entry. The face of this partnership was professional race car driver, Katherine Legge. E.l.f. first partnered with Legge at the 2023 Indy 500 when she set the record for the fastest one-lap (231.627 mph) and four-lap (231.070 mph) qualification speeds for a woman in Indy 500 history.
In the last three months, e.l.f ’s selling, general and administrative (SG&A) expenses grew by roughly $121 million due to an increase in marketing and digital spend and operational costs. However their net sales increased 71% to $321.1 million, showing the financial effectiveness of their innovative campaigns.
E.l.f. Beauty was designed to disrupt norms, shape culture and connect communities through positivity, inclusivity and accessibility, and that is exactly what they are doing!