ELF eyes global expansion with London office to serve “every eye, lip and face”
28 Feb 2024 --- ELF Cosmetics opens its first European office in London to further its commitment to growing the company’s international business.
Across its business practices, the company says it is prioritizing three areas for overall growth and market penetration: Color cosmetics, skin care and expanding internationally. Global net sales grew 119% year-over-year in the last quarter (Q3 FY24).
“We see significant runway in both the UK and other markets around the world. ELF will bring its unique value proposition, powerhouse innovation and disruptive marketing engine — which have proven to resonate across categories and geographies — into new places and spaces with the purpose of serving every eye, lip and face,” says Tarang Amin, chairman and CEO, ELF Beauty.
“Our vision to empower a global community that shares our vision of positivity, inclusivity and accessibility means we are moving into markets where there is an opportunity to connect more directly with consumers and demonstrate directly that we are a different kind of company.”
Planned expansions
The office is at 2 Upper Street in Angel, Islington, a 10,000-square-foot space. The location currently employs 40 people and aims to be a global hub for the beauty brand.
Left to right - Kory Marchisotto SVP, CMO, Keys Soulcare Scott Milsten SVP, General Counsel CPO,Jennie Laar, SVP, CCO, Tarang Amin, Chairman, CEO, Mandy Fields, SVP, CFO, Josh Franks, SVP, Operations. “The ELF twist in opening our first physical office space in London is that we ended up taking down ‘walls.’ This isn’t an office for the UK team or the international team. This is the home of our ELFz, who happen to be in London,” says Christine Cassidy, VP and general manager, International, ELF Beauty.
According to ELF, it is now the sixth most popular cosmetics brand in the UK, compared to 12th five years ago, growing ten times the market. The brand began its presence in the UK with digital e-commerce in 2014 and opened in physical retail at Superdrug in 2017 and Boots in 2019.
With the brands’ global expansion plans, toward the end of 2023, ELF Cosmetics entered the Italian market and became the number one makeup brand across mass and prestige at Douglas.
ELF Beauty is currently headquartered in Oakland, US, with offices in New York, Los Angeles, New Jersey and Shanghai, China.
ELF earnings beat
Recently, ELF launched a beauty shopping app for Apple Vision Pro and reported strong quarterly results that beat expectations. The company raised its full-year guidance for the third quarter in a row after growing net sales by 85% in its latest quarter, on top of 49% sales growth in the year-ago period.
Last month, the company also partnered with the US National Association of Corporate Directors to help organizations assemble diverse and inclusive boards. There are only four public companies in the US with a board of directors made up of two-thirds women and one-third people of color, one of which is ELF Beauty.
Edited by Sabine Waldeck
