e.l.f. Beauty's 2024 Impact Report: Progress and Goals
e.l.f. Beauty Unveils Its 2024 Impact Report
e.l.f. Beauty (NYSE: ELF) has released its annual Impact Report, showcasing the company’s ongoing journey to make beauty accessible to all. This report reflects the company's hard work and milestones achieved to aid every eye, lip, and face in enhancing their beauty.
Highlighting Positive Impacts
The 2024 report provides an insightful overview encompassing both FY 2024 and early FY 2025. It emphasizes e.l.f. Beauty's actions and strides made towards boosting the well-being of people, products, and the planet through its five brands: e.l.f. Cosmetics, e.l.f. SKIN, Keys Soulcare, Well People, and NATURIUM.
Commitment to Purpose and Results
The essence of e.l.f. Beauty revolves around being a different type of enterprise — one driven by purpose and results. The company believes wholeheartedly in the idea that anything is possible, aiming to do good while being good simultaneously. This philosophy of positivity, inclusivity, and accessibility has been woven into the fabric of e.l.f. Beauty since its inception.
CEO's Perspective on Progress
Tarang Amin, Chairman and CEO, stated, “Our Impact Report illustrates e.l.f. Beauty's commitment to bold disruption with a compassionate approach. We also set new aspirations accompanied by metrics to ensure we hold ourselves accountable.” He further expressed that e.l.f. Beauty has enjoyed consistent, industry-leading growth for over five years and aims to utilize its platform to advocate for positive change.
Key Highlights from the Impact Report
Among its many commitments, e.l.f. Beauty stands out with several remarkable achievements:
- The organization is unique in its position as the only publicly traded company in the U.S. with a Board of Directors where over 78% are women and 44% come from diverse backgrounds.
- A significant number of over 2,500 ingredients are excluded from product formulations, surpassing FDA and EU regulations, which only restrict 11 ingredients.
- Integrating responsible sourcing, more than 85% of e.l.f. Beauty products are manufactured in Fair Trade Certified™ facilities, ensuring ethical production practices.
- The company is committed to reducing packaging intensity, projecting to eliminate around 400 tons of packaging annually through lightweighting initiatives.
- e.l.f. Beauty has introduced two impactful commitments towards sustainable packaging, aiming for half of all plastic packaging to feature recycled or responsibly sourced bio-based content by 2030.
- All directly managed sites now rely on 100% renewable energy and meet established reduction targets for Scope 1 and 2 emissions.
Engaging the Community
In alignment with its principles of community engagement, e.l.f. Beauty has launched a new corporate website that coincides with the release of the FY 2024 Impact Report, allowing for greater connectivity and transparency.
About e.l.f. Beauty
With a mission encapsulated by the belief that anything is e.l.f.ing possible, e.l.f. Beauty (NYSE: ELF) is committed to rethinking norms, enriching culture, and fostering connections within communities. The company is dedicated to ensuring high-quality beauty products are within everyone's reach. e.l.f. Cosmetics, e.l.f. SKIN, Keys Soulcare, Well People, and NATURIUM thrive on purpose, with results driving their innovation.
Innovations and Certifications
e.l.f. Beauty proudly holds dual certifications from both Leaping Bunny and PETA, showcasing its commitment to clean and vegan products. It also stands as the first beauty company to have Fair Trade Certified™ manufacturing facilities. The company deeply values its community, donating 2% of net profits to initiatives that promote positive impacts.
Frequently Asked Questions
What are the main focuses of e.l.f. Beauty’s Impact Report for 2024?
The report centers around the company’s commitment to sustainability, diversity, and community engagement, as shown through concrete actions and goals.
How does e.l.f. Beauty ensure sustainability in its products?
The company excludes over 2,500 ingredients from its formulations and ensures more than 85% of its products are made in Fair Trade Certified™ facilities.
What is unique about e.l.f. Beauty's Board of Directors?
e.l.f. Beauty has a remarkable Board of Directors, with over 78% being women and 44% belonging to diverse backgrounds, setting a standard in corporate governance.
How does e.l.f. Beauty engage with its community?
e.l.f. Beauty engages with its community through initiatives like their new corporate website and commitments to donate a portion of their profits to meaningful causes.
What certifications does e.l.f. Beauty hold?
e.l.f. Beauty is certified by both Leaping Bunny and PETA, affirming its commitment to cruelty-free, clean, and vegan products.
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