E.L.F. Beauty, the beauty chain based in Oakland, California, has reported a substantial increase in sales and earnings for the fiscal year, primarily due to its national and international retailers. In the announcement, E.L.F. Beauty stated that its revenues for the full year surged by 23%, totaling $392.2 million. The fourth quarter also saw a growth of 13%, amounting to $105.1 million, thanks to the expansion of the company’s global retail network. Tarang Amin, Chairman and CEO of E.L.F. Beauty, expressed pride in the company’s outstanding performance and highlighted how it reflects their value proposition and strong connection with consumers. Furthermore, the net income for the year skyrocketed to $21.7 million, a significant increase compared to the previous year’s $6.2 million. The fourth quarter also saw positive earnings, reaching $1.5 million. Amin emphasized that E.L.F. Beauty stands out as the only top 5 color cosmetics brand to achieve sales and share growth exceeding pre-pandemic levels by a notable margin. He firmly believes that their competitive advantages and unique brand portfolio will continue to drive their momentum. Looking to the future, E.L.F. Beauty anticipates a 10-12% rise in net sales for fiscal 2023. Mandy Fields, the company’s Chief Financial Officer, expressed satisfaction with the exceptional results in the fiscal year 2022 and conveyed confidence in their ability to maintain their business momentum in the upcoming year.

E.L.F. Beauty owes its success to its expansion of partnerships with other major brands and its dedication to sustainability. Last year, the company proudly announced that it had eliminated 1 million pounds of packaging across its products, further bolstering its sustainability initiatives. In a more recent collaboration, E.L.F. Beauty joined forces with Dunkin’ to create a limited-edition makeup collection.

With its continuous growth in sales and earnings, strategic partnerships, and commitment to sustainability, E.L.F. Beauty is firmly positioned as a formidable competitor in the beauty industry. With its distinct brand portfolio and unwavering focus on meeting consumer needs, E.L.F. Beauty appears well-prepared for continued success in the future.

Useful links:
1. E.L.F. Beauty official website
2. Reuters article on E.L.F. Beauty’s sales growth and sustainability efforts