E.l.f.
| Company type | Public |
|---|---|
| Industry | Cosmetics |
| Founded | June 2004 |
| Founder | Joseph Shamah, Scott-Vincent Borba |
| Headquarters | Oakland, California , United States |
Area served | International (17 countries) |
Key people | Tarang Amin (CEO), Mandy Fields (SVP & CFO), Kory Marchisotto (SVP & CMO), Scott Milsten (SVP & General Counsel) |
| Products | Cosmetics, skincare, bath products, professional tools |
| Revenue | US$1.02 billion (2024) |
| US$150 million (2024) | |
| US$128 million (2024) | |
| Total assets | US$1.13 billion (2024) |
| Total equity | US$643 million (2024) |
Number of employees | 475 (2024) |
| Website | elfcosmetics |
e.l.f. Beauty, Inc. is a U.S.-based cosmetics company with its headquarters located in Oakland, California. Established in 2004 by founders Joseph Shamah and Scott-Vincent Borba, e.l.f. offers an extensive assortment of products, including bath and skincare items, mineral makeup, professional-grade tools, eyeliners, lipsticks, glosses, blushes, bronzers, brushes, and mascara. The brand's portfolio is designed to serve a wide audience by providing affordable beauty essentials.
Operating internationally, e.l.f. distributes its products across 17 countries through prominent retailers such as Target, Kmart, Dollar General, and Walmart. More than half of the company’s sales come from its online platform, which also serves as a social networking community with over two million active members, fostering customer interaction and supporting business expansion.
As reported in 2024, e.l.f. Beauty achieved revenues of US$1.02 billion, with an operating income of US$150 million and net income totaling US$128 million. The organization employs roughly 475 individuals and holds assets worth US$1.13 billion alongside equity amounting to US$643 million. Leading executives include CEO Tarang Amin, Senior Vice President and CFO Mandy Fields, Senior Vice President and CMO Kory Marchisotto, and Senior Vice President and General Counsel Scott Milsten.
History and operations
Founded in June 2004 by Joseph Shamah and entrepreneur Scott-Vincent Borba, e.l.f. (an acronym for EyesLipsFace) Cosmetics was launched with financial backing from Shamah’s father, Alan. At the time, Shamah was a 23-year-old business student at New York University, collaborating with Borba who had previously established brands such as Hard Candy cosmetics.
On February 3, 2014, TPG Growth took a controlling interest in e.l.f. Cosmetics. Subsequently, leadership transitioned from Joey Shamah to Tarang P. Amin who assumed the roles of president, CEO, and director, signaling a new strategic direction.
In August 2023, e.l.f. expanded its skincare segment by acquiring Naturium, a West Hollywood-based brand, for $355 million; the transaction was completed in October 2023. This purchase broadened e.l.f.’s skincare offerings and market presence.
Looking ahead to April 2025, British professional racer Katherine Legge—sponsored by e.l.f.—is set to participate in at least seven NASCAR National Series events including the NASCAR Cup Series race in Mexico City. This sponsorship underscores e.l.f.’s innovative marketing approach as the first beauty company to back a driver competing at the Indianapolis 500.
In May 2025, e.l.f. made history by becoming the inaugural beauty sponsor of the National Women’s Soccer League (NWSL) through a three-year agreement commencing with the NWSL Challenge Cup. This collaboration features talent development programs such as the “Glow for Glory Contest” alongside content partnerships aimed at nurturing young female athletes and fostering leadership skills.
On May 28, 2025, e.l.f. announced its intention to acquire Rhode—Hailey Bieber’s beauty label—in a deal valued up to $1 billion. The acquisition is anticipated to finalize later in 2025, further enhancing e.l.f.’s product lineup and market position.
Products
Starting with just 13 makeup items at its inception, the company now offers more than 300 products spanning bath essentials, skincare solutions, mineral makeup formulations, professional tools, eyeliners, lipsticks, glosses, blushes, bronzers, brushes, and mascara. The majority of these products are priced affordably with an average retail cost around $9. This diverse range appeals to consumers from teenagers through women in their forties and fifties. All offerings are vegan and cruelty-free in alignment with PETA’s no-fur initiative. The brand has been featured in leading publications including Glamour, Allure, Self, InStyle, and Good Housekeeping.
Back in 2011, e.l.f. Cosmetics presented three distinct lines: e.l.f. Studio focused on professional makeup; e.l.f. Minerals featured natural mineral-based products; and e.l.f. Essentials provided everyday affordable cosmetics. By 2023, the company consolidated its offerings into two primary categories: e.l.f. Cosmetics for makeup products and e.l.f. Skin, which emphasizes skincare items like moisturizers and cleansers following the discontinuation of the Bath & Body collection.
Retail
e.l.f. Cosmetics maintains a presence in 18 nations, including key markets such as the United States, Canada, Australia, the United Kingdom, Saudi Arabia, France, Colombia, and Spain. Its products are extensively distributed through regional drugstore chains throughout North America and are predominantly retailed via Target stores. In March 2010, Target introduced the $1 and Studio collections across more than 700 locations, with most items priced at $1 or $3. By March 2011, Target had expanded its e.l.f. product range to nearly all of its stores. Other retail partners encompass Kmart, Dollar General, Walmart, various supermarkets, and discount retailers specializing in women's apparel.
History
In 2004, after encountering challenges in retail distribution, e.l.f. Cosmetics revamped its website into a full-fledged e-commerce platform. This transition was prompted by a major magazine’s requirement for national accessibility to feature their products. The change swiftly boosted order volumes and facilitated multiple features in Glamour magazine. By 2008, the website had become the primary sales outlet, representing approximately half of the company’s total revenue.
Features
Customer interaction on the website has tripled since the introduction of a beauty blog and advice column in June 2007. The platform includes live chat services with professional makeup artists, a virtual makeover tool enabling digital trials of products, and customized beauty profiles that suggest items based on individual skin types and facial characteristics. Social media integration allows users to create Facebook wish-lists. Additionally, the site hosts educational videos and a comprehensive beauty encyclopedia. With a membership exceeding two million users, the website plays a crucial role in driving e.l.f.’s market growth and brand presence.
Promotions
Since 2007, e.l.f. has prioritized email marketing as its primary promotional strategy, executing weekly campaigns that have become its most effective marketing channel. The company frequently offers promotions mainly via its website, rewarding subscribers with points or gift certificates for successful referrals that lead to purchases. By September 2009, these referral efforts had generated over 500,000 friend-driven sales.
The company also organizes online events and annually conducts a casting competition to select brand ambassadors. Four finalists receive makeovers from Creative Director Achelle Dunaway and participate in photo shoots as they vie for cash rewards and the distinction of becoming the "face of e.l.f."
Media presence and sponsorship
e.l.f.’s product line has garnered favorable reviews from leading publications such as Glamour, Allure, Self, InStyle, and Good Housekeeping. The brand has also been showcased on the Style Network and profiled by media outlets including Entrepreneur, CNN, Retail Merchandiser, Information Week, and The Wall Street Journal. A notable highlight occurred in December 2010 when the '100-Piece Endless Eyes Pro Eyeshadow Palette' was featured in Oprah Winfrey's O magazine holiday issue, resulting in rapid sell-outs; it was reissued at half price in January 2011.
In April 2023, e.l.f. debuted "Vanity Table Talk," a digital series released monthly on platforms such as YouTube, Instagram, and TikTok, with actress Jennifer Coolidge starring in the first episode.
November 2023 saw e.l.f. introduce "e.l.f UP!", a Roblox business simulation game designed for Gen Alpha and Gen Z entrepreneurs that offers players up to one million free User Generated Content items.
For the 108th Indianapolis 500 in 2024, e.l.f. made history as the first beauty brand to sponsor a primary IndyCar vehicle by supporting Katherine Legge’s No. 51 car. This collaboration extended into 2025 with sponsorships of Legge’s NASCAR Cup and Xfinity Series races, including events at Rockingham Speedway.
Breast cancer funds
Soon after its establishment in 2004, e.l.f. contributed 20% of the earnings from its 'Shimmering Facial Whip' product to support research by Win Against Breast Cancer. Additionally, the company provided "Color Therapy Care Packages" to breast cancer patients at hospitals in Los Angeles.
PETA
e.l.f. upholds a cruelty-free product range. In 2007, it offered tweezers encased in faux leather pouches to back PETA's Fur Free Campaign, allocating half of the sales revenue to the organization. CEO Joseph Shamah was honored with PETA's "Trail-Blazer Award" in recognition of the company’s dedication to alternatives to animal testing.
2011 Japan earthquake and tsunami
In response to the 2011 Tōhoku earthquake and tsunami, e.l.f. introduced the "Mi & You Can Make a Difference" initiative, pledging 5% of online sales revenue to the Red Cross to aid disaster relief operations.
So Many Dicks
In 2024, e.l.f. launched the bold "So Many Dicks" campaign, drawing attention to the gender disparity on boards of U.S. public companies and underscoring issues surrounding diversity in corporate governance. CEO Tarang Amin expressed strong faith in the brand’s devoted clientele despite possible criticism toward diversity, equity, and inclusion (DEI) efforts.