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E.l.f. Weathers Sales Deceleration, Launches Project Unicorn

E.l.f. Cosmetics reported a 6 percent gain in sales for the second quarter, but has experienced a sales deceleration in recent weeks, according to chief executive officer Tarang Amin.
While it expects the deceleration to continue into the second half of the year, E.l.f. has launched several initiatives aimed at sparking growth. One, called Project Unicorn, includes changing some of the company’s product packaging in order to get more new products on store shelves.
“By taking some things out of their boxes, we really allow our premium componentry and color to come through,” Amin said. Project Unicorn extends into the actual products themselves, as well as to messaging on product shelves, Amin said. It also means talking more loudly about E.l.f.’s cruelty-free offering, which has not historically been the center of its brand messaging.
E.l.f. is also widening the scope of its influencer program. Previously, E.l.f. relied on unpaid microinfluencers and events like Beautyscape — a trip that includes the brand’s core influencers — to drum up buzz, but that is no longer enough, Amin noted.
Going forward, E.l.f. does not expect to simply pay influencers to talk about the product, something Amin believes consumers can see straight through, but is open to revenue-sharing

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Via:: https://wwd.com/beauty-industry-news/beauty-features/e-l-f-weathers-sales-deceleration-launches-project-unicorn-1202771390/