TIME100 Most Influential Companies 2025: e.l.f. Beauty
If you've spent any time watching "Get Ready With Me" videos on social media, you've likely seen someone gleefully testing out a new product from e.l.f. Beauty. The 21-year-old company today includes flagship brand e.l.f. Cosmetics, e.l.f. SKIN, Alicia Keys' Keys Soulcare, Well People, and Naturium—brands sold in stores like Ulta Beauty, Target, Walmart and drugstore chains, and known for offering a wide variety of on-trend makeup and skincare products at an affordable price point. The company thrives on its ability to rapidly respond to customer demands, and many of e.l.f.'s products are touted by consumers as "dupes" for popular items from luxury brands. Chairman and CEO Tarang Amin shares a story about moving up a planned 18-month timeline for the company's bronzing drops to six months after community members on TikTok live asked him to make a more affordable alternative to Drunk Elephant's buzzy serum ASAP. (Drunk Elephant's product: $39. E.l.f.'s: $12.) Competitors often do not appreciate this approach: a 2023 California lawsuit filed by Benefit Cosmetics claimed that e.l.f. infringed on the trademark of a specific Benefit mascara; a judge sided with e.l.f. last December. 'We're not a dupe brand, because we always put our e.l.f. twist on something,' Amin says. His guiding principle: 'Let's do it better, and let's make it way more affordable.'
E.L.F. made global news when it announced on May 28 that it will acquire Hailey Bieber's skincare and makeup brand Rhode for up to $1 billion—a jaw-dropping number in an industry that's deeply impacted by Trump's tariffs. The deal, which is set to close in 2026, is structured as $600 million in cash and $200 million in E.L.F. stock, with a potential $200 million additional earnout depending on performance over three years. It's strategically designed to give Bieber—like all E.L.F. employees, who receive equity from their date of hire—ownership over the company's success. 'I'm very open with that,' Amin says. 'I want to create wealth for our employees who are driving our results.'
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