NEW YORK — Existing nationals retailers selling its products, such as CVS and Target, will be provide a majority of growth for e.l.f. moving forward, CEO Tarang Amin said in an interview with Investors Business Daily.
“We expect the U.S. to be the largest source of our growth over the next few years as we grow space allocation with existing retailers, increase new customers and grow our direct-to-consumer business through elfcosmetics.com and e.l.f. stores,” Amin said. “The majority of our growth will be driven by national retailers, given the white space that we see here in existing doors as well as new doors. That being said, our direct channel plays an incredibly important role in terms of validating our innovation and engaging with our consumers, and we believe there is significant room to grow here as well.”
Amin added in the interview beauty product sales will not slow down any time soon.
“We believe that the cosmetics category is highly attractive given its scale, growth dynamics and consumer demand trends,” said Amin. “And, given the importance of cosmetics in a woman's daily regimen and the availability of products across price points, the category has demonstrated resiliency through economic cycles. We expect cosmetics to continue to be among the fastest growing and most consistent consumer categories.”
In addition, Amin noted there is plenty of room for e.l.f. to grow in the future.
“We believe we are in the early innings of growth as we continue to make progress on our four key strategies: Build a great brand, lead innovation, expand brand penetration and drive world-class operations. We continue to see momentum in both our direct channels and leading national retailers, as well as strong operational results and remain excited about our business as we head into 2017,” he concluded.
To see the full interview, click here.