Just over a decade ago, I recall hearing about this new online beauty brand that was selling make-up and beauty tools for $1.00. It was almost unheard of to have a website at that time to shop around on and pick out things like lipstick, makeup brushes or eyeliners for that price. It created quite a buzz I recall for all of us beauty followers, even as far back as 2006, before the YouTube beauty vloggers and Instagram makeup artists created an entirely new following for the industry.
Since then, Eyes, Lips, Face – better known as the brand E.L.F, has entered retail store shelves and grown its online offerings to provide more
beauty products and even higher tier, pricier options than just the $1.00 products it started out with.
Today’s make-up industry is an interesting one that is driven by marketing influencers, and guessing which brand will be the next best thing is really a crap shoot.
Many in the industry from novice to well respected make-up artists were happy and surprised on Thursday morning when they heard the news that the company made its appearance on the New York Stock Exchange, filing for an IPO.
Not only because it was not your typical type company to see getting listed, but it also opened at $17 a share - higher than its target and still a price many followers and believers in the brand could grab a chance at. Things quickly changed as the popularity soared, according to reports, and the Oakland, Calif.-based cosmetics company by mid-morning saw shares at $27.09 a piece.
According to Bloomberg, this is a good time to be in the beauty market, as spending is increasing and spending on clothing is declining. It also signifies a possible upturn in the economy as women are spending on things like lipstick again. That could mean lots of potentially good things for other smaller beauty brands as well – perhaps following in E.L.F’s footsteps.