E.l.f. Beauty, a frontrunner in accessible beauty products, has announced the acquisition of Naturium, a rapidly expanding high-performance skincare brand, for the sum of 355 million dollars.
This purchase is poised to bolster e.l.f. Beauty's quest to democratise the beauty industry spanning from eyes, lips, and face to addressing diverse skin concerns. It will also increase e.l.f. Beauty's market presence in the skincare realm to approximately 18 percent of their retail sales.
Tarang Amin, Chairman and CEO of e.l.f. Beauty, welcomed Naturium into their fold, highlighting the shared vision of creating a non-traditional beauty enterprise that challenges norms, embraces inclusivity, and influences culture. Amin noted e.l.f. Beauty's consistent financial growth, including a 76 percent net sales increase in the previous quarter, as well as the continuous expansion of e.l.f. SKIN. The integration of Naturium offers a significant opportunity to enhance their presence in skincare.
Naturium, established in 2019 under The Center in Los Angeles, gained momentum with the involvement of skincare authority Susan Yara and a minority investment from Prelude Growth Partners. The brand's philosophy emphasises effective and affordable high-performance skincare.
The brand's growth has been particularly notable at Target, where it earned the Beauty Vendor of the Year award in 2022.
A press release announcing the deal stated it would be concluded by September 30, 2023, depending on customary closing conditions.