THE WHAT? Elf Beauty has announced its results for the three and nine months ended December 31, 2022. The mass make-up brand saw net sales soar an impressive 49 percent in the third quarter to US$146.5 million while gross margin increased 180 basis points to 67 percent.
THE DETAILS That storming third quarter bought nine month sales to US$391.5 million, an increase of 36 percent on the prior year period.
The company has updated its fiscal 2023 outlook accordingly and is now forecasting net sales of US$541 to US$545 million for the year
THE WHY? Elf said sales growth was driven primarily by strength in both its retailer and e-commerce channels. Tarang Amin, Elf Beauty’s Chairman and Chief Executive Officer, explains, “We delivered a terrific third quarter – growing our net sales by 49 percent and expanding our market share by 150 basis points, according to Nielsen. This quarter marked our 16th consecutive quarter of net sales growth, reflecting the continued strong execution by the Elf. Beauty team. As we look ahead, we’re excited about the potential we see as we continue to make the best of beauty accessible to every eye, lip, face and skin concern.”
Medical aesthetic products refer to a category of products used in the field of medical aesthetics, which combines medical practices with cosmetic procedures to improve the appearance of individuals. These products are typically used under the supervision of trained medical professionals such as dermatologists, plastic surgeons, or specialized nurses. They are distinct from over-the-counter cosmetics in that they often contain higher concentrations of active ingredients or require medical expertise for their application.
Examples of medical aesthetic products include:
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Dermal Fillers: Injectable substances used to restore volume, fill wrinkles, and enhance facial contours. These may include hyaluronic acid fillers like Juvederm or collagen-stimulating fillers like Sculptra.
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Botulinum Toxin (Botox): Injectable neurotoxins used to temporarily paralyze facial muscles, reducing the appearance of wrinkles and fine lines caused by facial expressions.
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Chemical Peels: Solutions containing chemical exfoliants like glycolic acid, salicylic acid, or trichloroacetic acid, used to improve skin texture, treat acne scars, and reduce hyperpigmentation.
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Laser and Light Devices: Equipment used for various skin treatments, including hair removal, skin resurfacing, tattoo removal, and treatment of vascular and pigmented lesions.
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Prescription Skincare Products: Formulations containing active ingredients such as retinoids (e.g., tretinoin), hydroquinone, or prescription-strength antioxidants, designed to address specific dermatological concerns under medical supervision.
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Microneedling Devices: Devices that create tiny punctures in the skin to stimulate collagen production and improve skin texture and elasticity.
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Cosmeceuticals: High-quality skincare products that bridge the gap between cosmetics and pharmaceuticals, often containing biologically active ingredients with proven efficacy.
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