Brands such as Estée Lauder and L'Oreal tend to rely on big-name celebrities and marketing campaigns to sell products. The problem with this approach is that this is an expensive form of advertising, and big-name brands pass on the costs of these campaigns to their products.
The chart above illustrates e.l.f. Beauty's quarterly revenue for the last several years. It's easy to see that the slope of the line has gotten increasing.
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