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E.l.f. Acquires Internet

May 27, 2023


The beauty brand’s domination continues.

E.l.f. is beloved for its affordable, high-quality beauty products — from the Camo Concealer to the Poreless Putty Face Primer (both of which you’ve probably seen go viral on TikTok). You might be surprised to learn that E.l.f. is also the owner of clean makeup brand W3LL People, as well as Alicia Keys’ soul-soothing skin care line, Keys Soulcare — two brands known for their clean ingredients and commitment to vegan, cruelty-free formulas. And of of today, E.l.f. has acquired another ingredient-focused brand to build on its beauty portfoilio: Naturium.

Launched in 2019 by beauty content creator Susan Yara (also known by her YouTube account name, @MixedMakeup) and Ben Bennett, the founder of beauty incubator The Center (also behind the brands Phlur, MAKE Beauty, and Saltair), Naturium has steadily grown over the past three years to become a major player in the skin care space. The brand offers well-priced, easy-to-understand products that target different skin concerns, with a focus on science-backed ingredients like vitamin C, retinol and niacinamide featured in their best-selling products like The Glow Getter Multi-Oil Hydrating Body Wash, Vitamin C Complex Serum, and Dew-Glow Moisturizer SPF 50. You might have also seen Naturium products stocked on Target shelves, the brand’s exclusive retail partner. As you’d imagine, acquiring such a skin care powerhouse is a hefty purchase: just a casual $355 million, to be exact. But it’s worth the investment: Naturium is expected to double E.l.f.'s presence in skin care to approximately 18% of retail sales.

We can all breathe a sigh of relief: Naturium prices won’t be marked up, which has happened before with other company acquisitions. E.l.f.'s primary goal is to keep clean beauty affordable and accessible, and Naturium isn't any different. In fact, these aligned purposes are what urged E.l.f. to merge with Naturium. "Naturium has built something special,” says E.l.f.'s CEO and Chairman, Tarang Amin. “With efficacious products at accessible price points and a community-first mindset, Naturium reminds me of where E.l.f. was when I became C.E.O. over nine years ago."

The deal is set to close September 30th and if all goes well, will to continue to expand E.l.f.’s ever-growing domination in the beauty space.

Dee Kwong