Cruelty-free US beauty brand E.l.f has posted results for the last three and six months – and it’s looking good.
The company, whose mission is to make ‘luxurious beauty accessible for all’ shared its net sales growth of 27 per cent over the second quarter of this year.
The brand crossed the pond to launch in the UK earlier this year when it hit shelves in Superdrug – its first major foray into Europe. It is also available in Mexico and Canada alongside the US.
Homegrown expansion took the form of a limited launch in a number of Ulta Beauty stores.
In addition, the company recently released 21 news products, including a massaging eye wand.
Chairman and Chief Executive Officer Tarang Amin said: “We are pleased with our strong progress in Q2 highlighted by a 27 per cent increase in net sales and over 700 basis point expansion in gross margin.
“Our performance continues to demonstrate the successful execution of our mission to make luxurious beauty accessible for all.”
The company has expectations for continued revenue growth in 2017 with plans to invest in ‘people, infrastructure, and brand building’.