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.
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