“Fiscal 2024 marked our strongest year of net sales growth on record, a continuation of the exceptional, consistent, category-leading growth we’ve delivered,” said Tarang Amin, e.l.f. Beauty’s chairman and CEO.e.l.f Beauty
Looking ahead, the company is forecasting 2025 full-year net sales of $1,230-1,250 million.
Furthermore, the company announced that Naturium will soon launch in Ulta, while the e.l.f. brand will expand to Sephora in Mexico.
"[I]n terms of our guidance on the net sales side, we are guiding 20% to 22% net sales growth, and we feel incredible about that," said Tarang Amin, e.l.f. Beauty’s chairman and CEO, during an analyst call.
The executive added, "That is building strength on strength on top of the 77% net sales growth year we just delivered in fiscal '24. So we actually feel great about our guidance."
Amin continued, "And how that breaks down, I would say that this guidance implies that our growth is going to continue to be unit led. We talked about being the #1 unit share growth -- or #1 unit share brand in Nielsen data."
The brand has become a favorite of emerging Gen Alpha shoppers and is generally benefitting from increased teen beauty spending.
To expand growth, e.l.f. Beauty opened an office in London earlier this year.
“Fiscal 2024 marked our strongest year of net sales growth on record, a continuation of the exceptional, consistent, category-leading growth we’ve delivered,” said Amin. “In Q4, we grew net sales by 71% and expanded our market share by 325 basis points, marking our 21st consecutive quarter of net sales and market share growth. As we look ahead, we believe we are still in the early innings of unlocking the full potential we see for e.l.f. Beauty across cosmetics, skin care and international markets.”
Elsewhere, in an interview with Reuters, Amin said, "We do like to take things one quarter at a time ... it's very hard to kind of grow 80% on top of 80%."
He also reportedly noted that the company is experiencing "good behavior" from consumers.
On the company's analyst call, Amin noted, "I think for the quarter, we grew international 115%, primarily off of our first 2 countries, Canada and the U.K., where we continue to increase rank."
