THE WHAT? Elf has announced the acquisition of cruelty-free, clean beauty brand W3LL People for US$27 million.
THE DETAILS The Indie brand, launched in 2008, is a plant-based product line with an emerging presence at US retailers including Target, and Whole Foods.
“We are pleased to bring clean beauty pioneer W3LL PEOPLE under the Elf Beauty umbrella as our first strategic extension. Clean beauty is a strategically important segment given consumer sentiment and strong growth rates. W3LL PEOPLE has a long history of expertise and credibility in clean beauty that works. Their brand values and market opportunity align closely with Elf and we believe there are a number of synergies to be realized on both the cost and distribution fronts,” said Tarang Amin, Elf. Beauty Chairman and CEO.
THE WHY? The move will allow Elf to tap into the popular clean beauty sphere. It plans to leverage its marketing, customer relationships and operational capabilities to grow the W3LL People brand.