E.l.f. Beauty has built its brand on democratizing access to beauty products by maintaining affordability in an increasingly expensive market, as well as creating a company culture that values diversity and disruption. This prioritization of diversity stands out as other brands like Target and Walmart roll back diversity, equity, and inclusion initiatives.
"You've gotta be bold in what you want to do," said e.l.f. Beauty chief brand officer Laurie Lam. "We want to help shape culture, by adding and being additive to that conversation…what that means a lot of time is that it's a risk. You have to be fearless in what you're going after in order to be able to shape culture."
Democratized access means keeping prices affordable even (and especially) during times of inflation. It also means keeping the company and boardroom diverse and finding ways to entertain and shape culture.
Diversity is a business advantage at e.l.f.
E.l.f.'s commitment to diversity extends beyond its product line to its corporate structure and advocacy efforts.
Last year, e.l.f. highlighted that there are more men named Dick serving on corporate boards than many underrepresented groups, including Hispanic women, women of Middle Eastern descent, and Native American women.
"There's nothing wrong with being a Dick, but there needs to be more of everyone else at the table," said Lam.
This perspective isn't just about social responsibility—it directly impacts business performance. Having a diverse boardroom helps e.l.f. reach its diverse consumers, which span across generations, ethnicities, and genders.
E.l.f embraces entertainment
“E.l.f. is a company that transcends beauty to become an entertainment company,” Lam said. E.l.f. was one of the first brands to embrace TikTok and has maintained a creator-forward approach to advertising.
This approach requires “building a culture and ethos at e.l.f. that is rooted in positivity, in inclusivity, in accessibility, but also rooted in every single person at e.l.f. believing that we are here to disrupt norms, shape culture, and connect communities,” Lam said.
E.l.f.’s longevity also comes from company's willingness to take risks with unexpected partnerships like Liquid DeathTinder, and Chipotle
Creating a high-performance, equitable culture
The company's success stems from its corporate culture. "You build a high-performance team that wants to disrupt norms and shape culture," Lam explained. She said this culture breaks down traditional corporate hierarchies—what Lam calls "invisible walls"—that often exist in workplaces.
In order to do this, e.l.f. maintains a shared ownership structure. "Every single person who is contributing to the company should be able to have wealth creation in terms of what they're contributing to," Lam stated.
This philosophy creates alignment throughout the organization: "It doesn't matter if you're the receptionist…or the chief brand officer," Lam said. "We are all equal shareholders at this company, so we are all rooted in the success of the company, and that is why we have each other’s back."
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