Tarang Amin (C), Chairman and CEO of cosmetics company e.l.f. Beauty Inc., rings the opening bell at the New York Stock Exchange (NYSE) to celebrate his company’s IPO in New York City, U.S. September 22, 2016.
- After a quarter that blew past Wall Street's expectations, E.l.f. Beauty CEO Tarang Amin told CNBC's Jim Cramer how the cosmetics company is able to grow quickly.
- Amin applauded E.l.f.'s social media strategy, saying that it helps reach consumers across different age groups and nationalities.
After blowing past Wall Street's expectations for earnings, E.l.f. Beauty CEO Tarang Amin told CNBC's Jim Cramer how the cosmetics company is growing quickly and expanding its consumer base across multiple countries and age groups.
Amin lauded E.l.f.'s successful marketing and social media strategy, in particular highlighting how it helped bring about global success. He said international business was up 119% last quarter, with strength in the U.K., Canada and Italy.
The company raised its guidance for the third time in a row on Tuesday after it posted 85% sales growth during its holiday quarter.
"Last quarter we entered Italy with DOUGLAS in Italy, and quickly became their number one brand, not only in the mass side, but also across prestige," Amin said. "We found two things. One, our value proposition resonates all over the world. And second, given our strength in social media, the Italian consumer already knew about E.l.f. long before we got there."
Amin said E.l.f. is popular not only with Gen Z, but with Gen X and Millennials, adding that the company is even broadening its audience to Gen Alpha. E.l.f. found viral success on TikTok, and Amin said it has also done well on streaming platform Twitch and with its game on Roblox. E.l.f also incorporates more traditional advertising, and last year released a Super Bowl commercial featuring actor Jennifer Coolidge. The company will also have a commercial this year which includes Judge Judy and the cast of television show "Suits."
Money Report
"Our strategy is we want to live and follow where our community lives, and so we're always looking at what is engaging them, where are they spending their time," Amin said.
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