.elfcosmetics’s sales continue to climb.
in May, including tinted lip balms and a brow gel. In March, E.l.f. Cosmetics collaborated with Dunkin’ Donuts on eye shadows and a lip scrub.
“The strength of our innovation is one of the things that’s allowed us to build market share,” Amin said. The company has yet to feel inflationary headwinds, Amin said, and the company forecasts net sales growth of between 10 and 12 percent for fiscal 2023, projecting sales between $432 million and $440 million.
“I’m quite bullish on color cosmetics and skin care. Even in some of the retailer results, while they had mixed results, they talked about the strength they’re seeing in beauty,” Amin said. “Consumers are ready to get out there. I’m actually bullish on the category, even moreso how we’re positioned within it.”
E.l.f. even raised prices on two-thirds of its stock keeping units, given an increase in shipping prices. “That’s gone better than expected,” Amin said. “In the last eight weeks, our consumption has been up over 20 percent, and up over 30 percent in the last four weeks. We made a conscious decision to keep the lowest-price items at the same price. That dual strategy has worked really well.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Best Memorial Day 2022 Beauty Sales You Can Shop Right NowThere's never been a better time to add to cart.
Read more »
Your Favorite Luxury Beauty Products Are on Sale Right NowYour body will so appreciate this velvety body packed with ultra-rich seed butters and oils that are — get this — taken from a plant's reproductive parts. 🌱
Read more »
SELF Health Beauty Awards 2021: Best Face Moisturizers, Eye Creams, and Night CreamsSoften, smooth, and pamper your face.
Read more »
17 B Corp Certified Beauty Products You Can Feel Good About ShoppingGood for the planet and your face.
Read more »
Patrice Louvet Keeps Moving Ralph Lauren HigherThe CEO was able to raise prices even as the environment weakened and sees healthy sustainable growth ahead despite macro troubles.
Read more »