Here's what this means for your favorite E.L.F. products.
, for a cool $27 million. The news was revealed by E.L.F. via email in a press release on Monday, February 24, along with details about the decision.
According to the press release, the reason behind the acquisition came down to E.L.F.'s desire to expand its brand portfolio and break into the clean beauty space. "We are pleased to bring clean beauty pioneer W3LL People under the E.L.F. beauty umbrella as our first strategic extension," said the brand's chairman and CEO, Tarang Amin, in a statement. "Clean beauty is a strategically important segment given consumer sentiment and strong growth rates.
As it turns out, the W3LL People team sounds just as excited as E.L.F. about the decision. "W3LL People has a remarkable history of breaking beauty boundaries, and the acquisition by E.L.F. is an incredible milestone in our effort to make clean beauty accessible," says the brand's co-founder, James Walker, in a statement. "We feel tremendously grateful for our brand’s success and the extraordinary team that helped build it.
While neither brand has announced the news on social media yet, we can safely assume it's only a matter of time before they let fans in on the exciting news.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Herb Goldsmith, Cofounder of Members Only, Dies at 92Herbert Goldsmith, the cofounder of Members Only, has died.
Read more »
PepsiCo is acquiring an online-focused snack company based in China - Business InsiderBringing in Be & Cheery can potentially bolster PepsiCo's performance in China and raise its e-commerce capabilities around the world
Read more »
PepsiCo buys Chinese snack brand Be & Cheery for $705 millionPepsiCo Inc has agreed to buy Chinese snack brand Be & Cheery from local jujube ...
Read more »
Mike Fiers Has His Reputation On The Line For Oakland A’s This SeasonDepending on who one listens to, Fiers is either the hero or the villain of the still swirling bomb cyclone surrounding his former team, the Houston Astros, regarding their electronic sign stealing during the 2017 World Series-winning season.
Read more »
Meet Elodie, the Chart-Topping Italian Singer and Versace’s Latest Muse.elodiedipa made a head-turning front-row entrance at Versace–here is why she's a style star to watch.
Read more »
Prada Beauty for Fall/Winter 2020 | V Magazine💄 Prada Beauty For Fall/Winter 2020 | the beauty choices were nothing short of abstract and bold. Go behind the scenes of Prada's show to see the powerful beauty looks up close:
Read more »