THE CEO of E.I.f. Beauty has defended the $1 price switch forced on customers.
The chief has claimed that shoppers have embraced the change, and said that the large majority are even positive about it.
E.I.f. Beauty’s CEO Tarang Amin (left) pictured with Hailey Bieber (right), following E.l.f.’s acquisition of Bieber’s rhode skincare brand earlier this year[/caption]
E.I.f. Beauty’s CEO Tarang Amin has defended his company’s recent $1 price increase across its product line[/caption]
E.I.f. Beauty’s CEO Tarang Amin has defended his company’s recent $1 price increase across its product line.
He claims this has been done to compensate for President Donald Trump‘s tariff policies.
Amin has suggested that shoppers on the whole are not put off shopping due to the price rise.
In an interview with CNBC, Amin said: “We had about 98% positive sentiment from our consumers.
“Even after the price increase, 75% of our portfolio is $10 or less, so still a phenomenal value.”
This claim comes despite the fact that E.l.f. shares fell 9.48% in response to the company’s earnings report.
E.l.f. reported that its net income fell by 30% from last year, and has hit out at tariffs for being the reason why.
The company imports roughly 75% of its products from China
The added cost of importing from China has weighed down the business, it claims.
E.l.f. went as far as to withhold its full-year outlook due to the “wide range of potential outcomes related to tariffs.”
In the same interview, Amin stressed that E.l.f. Beauty has experienced significant growth internationally.
He continued: “International was the fastest-growing part of our business this past quarter, or, actually, the last few quarters.
“So, really, to be able to meet that demand, we’ll continue to diversify.”
E.l.f. has been connected to some famous faces in the past, like when it bought Hailey Bieber’s skincare brand, rhode, for a potential $1 billion this year.
TARIFF TALK
Back in February, Amin said he was “relieved” that a tariff on China would only be 10% – a fact that isn’t true today.
What items will be affected by the tariffs?
AMERICANS should prepare to see significant prices changes on everything from avocados to cars under President Donald Trump’s new global tariffs.
Here is a list of some of the everyday products that could see a massive price tag surge.
- Coffee
- Tea
- Bananas
- Foreign-made cars
- Sneakers
- Furniture and other home goods
- Pharmaceuticals
- Video games
- Clothing
- Toys
- Washers and dryers
- Avocados
- Housing materials
In a previous interview with the same outlet, Amin laid out the uncertainty that E.l.f. Beauty faced.
It also shined a light on how the company would react to the potential of higher tariffs.
He explained: “[It] seems like a weird thing to say, but we actually were somewhat relieved when it was only 10 points because at one time, the rhetoric was as high as 60% tariffs.
“We also want to play it out. There’s so much back and forth going on right now.
“If there was a higher level of tariff, we don’t want to announce our pricing actions until we know kind of where we feel it’s really going to settle out.
“The good thing, because we do have a long supply chain … we won’t face it this fiscal year.
“It won’t be until about, you know, well into our [fiscal year 2026] before we start seeing the value of that higher inventory.
“So we have time to really make sure we have the playbook.”
E.l.f. reported that its net income fell by 30% from last year, and has hit out at tariffs for being the reason why[/caption]
