“We’re pleased to announce we’ll be expanding E.l.f. to a subset of Dollar General Stores in November,” E.l.f. Beauty CEO Tarang P. Amin said during the brand’s 2025 Q2 earnings call on Wednesday. “Dollar General has a stated strategy of serving the underserved, with 80% of its stores serving markets of 20,000 people or less. With this launch, we hold true to our mission to democratize access for consumers who otherwise wouldn’t have the best of beauty, particularly in rural areas, which have traditionally been served by only the major legacy brands.”
The announcement was made after the company announced yet another quarter of growth.
“This was our 23rd consecutive quarter of both net sales growth and market share gains,” Amin said. During the call, the company reported net sales of $301.1 million for the quarter ending September 30, 2024, a 40% increase from the same period last year. The company also raised its full-year outlook to reach 28-30% net sales growth.
The average price of an E.l.f. product is $6.50 and the majority of its products are made and finished in China.
Dollar General has more than 20,000 stores across 48 states and offers low-price items, unlike traditional dollar stores that top out at 99 cents or $1.
The move is part of E.l.f. Beauty’s strategy to bolster U.S. sales, which trailed international sales in the second quarter. “Our international net sales grew 91% in Q2, fueled by growth in our existing markets as well as expansion into new markets. International drove 21% of our net sales in Q2, up from 16% a year ago.”
E.l.f. Beauty owns E.l.f. Cosmetics and E.l.f Skin, as well as Keyes Soulcare, Well Beauty, Well People and Naturium, which it acquired for $355 million in a cash and stock deal in September of last year.
