E.l.f. acquires clean beauty brand W3ll People
E.l.f. Beauty is expanding its portfolio by acquiring the cruelty-free and clean beauty brand W3ll People for $27 million in cash.
Through this transaction, e.l.f. plans to leverage its marketing, customer relationships and operational capabilities to drive the W3ll People brand, which the company expects to contribute approximately $7 million in net sales, the brand said.
“We are pleased to bring clean beauty pioneer W3ll People under the e.l.f. Beauty umbrella as our first strategic extension. Clean beauty is a strategically important segment given consumer sentiment and strong growth rates. W3ll People has a long history of expertise and credibility in clean beauty that works. Their brand values and market opportunity align closely with e.l.f. and we believe there are a number of synergies to be realized on both the cost and distribution fronts,” Tarang Amin, e.l.f. Beauty chairman and CEO said.
Launched in 2008 by James Walker, Shirley Pinkson, and Renee Snyder, W3ll People features plant-based products that do not contain fillers, propylene glycol, petrochemicals or petroleum byproducts, as well as 40 EWG Verified items in its portfolio.
“We have been transparent about our desire to pursue strategic extensions that can leverage our strengths and bring new capabilities to e.l.f., and we have been disciplined in this process,” Amin said. “W3ll People is rooted in a deep and passionate understanding of clean beauty and shares our mission of making the best of beauty accessible. We believe that W3ll People’s twelve years of clean beauty experience and high-quality product line, in combination with e.l.f.’s multiple strengths from operations to marketing, will be attractive to our retail partners – including Target, our longest-standing customer.”
Shoppers can find W3ll People products at such retailers as Target, Whole Foods, Credo Beauty, The Detox Market, Amazon.com and Ulta.com.
“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,” said James Walker, co-founder of W3ll People. “We feel tremendously grateful for our brand’s success and the extraordinary team that helped build it.”