"In the frenetic digital arena of the mid-2010s, where beauty trends exploded across social feeds like fireworks, ELF Beauty was a sleeper hit waiting to ignite. Founded in 2004 by father-son duo Joseph and Alan Shamah, alongside makeup artist Scott Vincent Borba, the Oakland-based brand-short for "Eyes, Lips, Face"-challenged the industry's luxury facade with cruelty-free cosmetics starting at $1. "We wanted to democratize beauty," Borba recalled, his passion evident in early profiles as he described sourcing affordable formulas to reach everyday consumers."
"By 2014, however, ELF stalled at $100 million in sales, teetering on irrelevance. Private equity firm TPG Growth acquired a majority stake, ushering in Tarang Amin as chairman and CEO. At 49, the Procter & Gamble and Clorox alum had scaled Schiff Nutrition from $190 million to $1.5 billion. Skeptics abounded: "Can this discount darling compete in glamor's cutthroat world?" Forbes contributors queried, echoing doubts about value brands' innovation chops."
ELF Beauty launched in 2004 in Oakland as an affordable, cruelty-free cosmetics line founded by Joseph and Alan Shamah with makeup artist Scott Vincent Borba. The brand sold products starting at $1 through dollar stores and online, targeting budget-conscious shoppers and aiming to democratize beauty. By 2014 ELF stalled at about $100 million in sales, prompting a majority stake purchase by TPG Growth and the appointment of Tarang Amin as chairman and CEO. Amin brought consumer packaged-goods experience and emphasized speed, innovation, and closer consumer relationships. Incumbent rivals' massive ad budgets and exclusive retail ties, plus ELF's mass-market positioning, posed prestige and morale challenges during the growth push.
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