THE WHAT? Elf Beauty has reported its results for the final quarter and full year of fiscal 2024. The mass market make-up brand said that sales soared a massive 77 percent in the twelve months to March 31, 2024 versus the prior year period – breaching the billion barrier.
THE DETAILS Indeed, sales rose 77 percent yoy to US$1,023.9 million in fiscal 2024, driven by strength across retailer and e-commerce channels, Elf said. Gross margin increased some 330 basis points to 71 percent thanks to favourable foreign exchange impacts, cost savings and mix.
The company is predicting sales of between US$1,230 to US$1,250 million for fiscal 2025 – an increase of 20 to 22 percent.
THE WHY? Tarang Amin, Elf Beauty’s Chairman and CEO, reveals, “Fiscal 2024 marked our strongest year of net sales growth on record, a continuation of the exceptional, consistent, category-leading growth we’ve delivered. In Q4, we grew net sales by 71 percent 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 Elf Beauty across cosmetics, skin care and international markets.”
Clinical aesthetics products refer to a category of products used in the field of medical aesthetics or cosmetic dermatology. These products are typically designed and formulated to be used under the supervision of healthcare professionals, such as dermatologists, plastic surgeons, or trained aestheticians. They are distinct from over-the-counter cosmetics in that they often contain active ingredients or formulations that require expertise in their application or administration.
Examples of clinical aesthetics products include:
-
Dermal Fillers: Injectable substances used to add volume, smooth wrinkles, and enhance facial contours. Examples include hyaluronic acid fillers like Juvederm and Restylane.
-
Botulinum Toxin (Botox): Injectables that temporarily paralyze facial muscles to reduce the appearance of wrinkles caused by repetitive movements, such as frown lines and crow's feet.
-
Chemical Peels: Solutions applied to the skin to exfoliate and improve its texture. They can treat acne, pigmentation issues, and signs of aging.
-
Laser and Light Therapies: Devices that emit focused light or laser energy to treat various skin conditions, including acne, scars, and signs of aging.
-
Prescription Skincare Products: Formulations containing active ingredients like retinoids (vitamin A derivatives), hydroquinone, or prescription-strength antioxidants to address specific skin concerns under medical supervision.
