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E.l.f. Hoists 2023 Full-Year Sales Guidance As Value Prices Attract New Customers

 
• By Eileen Francis

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.

E.l.f. Beauty, Inc. is nabbing market share from mass-level competitors and prestige brands while expanding in drugstore channels as cash-strapped consumers trade down to lower-priced cosmetics.

In today’s inflationary environment, e.l.f.’s value proposition is resonating with new customers, CEO Tarang Amin said on 3 August in...

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