e.l.f. Beauty Opens First European Office in London to Further Connect with Global Community
27 Fevereiro 2024 - 6:00AM
Business Wire
e.l.f. Cosmetics, the No. 6 cosmetics brand in
U.K., sees runway for growth in international business
e.l.f. Beauty (NYSE: ELF) officially opened its first European
office in London furthering a commitment to grow the company’s
international business.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240227491343/en/
Left to right - Kory Marchisotto SVP,
CMO, e.l.f. Beauty and President, Keys Soulcare Scott Milsten SVP,
General Counsel CPO, e.l.f. Beauty Jennie Laar, SVP, CCO, e.l.f.
Beauty Tarang Amin, Chairman, CEO, e.l.f. Beauty Mandy Fields, SVP,
CFO, e.l.f. Beauty Josh Franks, SVP, Operations, e.l.f. Beauty
(Photo: Business Wire)
Across e.l.f. Beauty’s business, the company is prioritizing
three areas for overall growth and market penetration: color
cosmetics, skin care and international. International net sales
grew 119% year-over-year in the last quarter (Q3 FY 24). Q3 FY 2024
Earnings Webcast
“We see significant runway in both the U.K. and other markets
around the world,” said Tarang Amin, Chairman and CEO, e.l.f.
Beauty. “e.l.f. 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 to serve every eye, lip and face.”
Amin added: “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.”
e.l.f. Cosmetics is now the No. 6 mass makeup brand in the U.K.,
compared to No. 12 five years ago - growing 10 times the market.*
The journey in the U.K. began with a digital ecommerce presence in
2014 and opened in physical retail at Superdrug in 2017 and Boots
in 2019.
In late 2023, e.l.f. Cosmetics entered the Italian market,
quickly ascending to become the No. 1 makeup brand across both mass
and prestige at Douglas.**
The office at 2 Upper Street in Angel, Islington, is a
10,000-square-foot space, designed for the team to thrive and be
connected to its community.
“The e.l.f. 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 U.K. team or the international team. This is the
home of our e.l.f.z who happen to be in London,” said Christine
Cassidy, Vice President and General Manager, International, e.l.f.
Beauty.
Currently with nearly 40 employees, the space has been created
as a global hub for e.l.f. Beauty, which is headquartered in
Oakland, California, with offices in New York, Los Angeles, New
Jersey, Shanghai.
*Source: Nielsen, UK L52w ending 12/30/2023 **Source: As of
December 31, 2023. Based on Douglas retail stores since launch
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, including those
statements relating to e.l.f. Beauty’s commitment to grow the
company’s international business, its commitment to prioritizing
three areas for overall growth and market penetration, and its
beliefs regarding the runway in both the U.K. and other markets
around the world. Although e.l.f. Beauty believes that the
expectations reflected in the forward-looking statements are
reasonable, actual results and the timing of selected events may
differ materially from those expectations. Factors that could cause
actual results to differ materially from those in the
forward-looking statements include, among other things, the risks
and uncertainties that are described in e.l.f. Beauty 's most
recent Annual Report on Form 10-K, as updated from time to time in
e.l.f. Beauty 's SEC filings, as well as e.l.f. Beauty’s ability to
effectively compete with other beauty companies; e.l.f. Beauty’s
ability to successfully introduce new products; e.l.f. Beauty’s
ability to attract new retail customers and/or expand business with
its existing retail customers; e.l.f. Beauty’s ability to optimize
shelf space at its key retail customers; the loss of any of e.l.f.
Beauty’s key retail customers or if the general business
performance of its key retail customers declines; and e.l.f.
Beauty’s ability to effectively manage its SG&A and other
expenses. Potential investors are urged to consider these factors
carefully in evaluating the forward-looking statements. These
forward-looking statements speak only as of the date hereof. Except
as required by law, e.l.f. Beauty assumes no obligation to update
or revise these forward-looking statements for any reason, even if
new information becomes available in the future.
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version on businesswire.com: https://www.businesswire.com/news/home/20240227491343/en/
Melinda Fried elf@5wpr.com
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