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E.l.f. Beauty showcases strong commitment to sustainability and diversity in 2023 impact report

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E.l.f. Beauty, a prominent beauty company, has revealed its significant sustainability efforts in the 2023 Impact Report. The company reformulated over 300 product SKUs in the fiscal year 2023, excluding ingredients beyond FDA and European Union Cosmetic Regulation restrictions. Aiming for a 20% reduction in packaging intensity by fiscal year 2030, E.l.f. Beauty is committed to sustainability, introducing goals like 100% Forest Stewardship Council-certified wood brush handles by the end of fiscal year 2025. Additionally, the company strives for 100% Roundtable for Sustainable Palm Oil Sourcing-certified palm oil procurement by fiscal 2027 and science-based targets for Scope 3 emissions. E.l.f. Beauty is dedicated to diversity and inclusion, evident in its diverse board composition, and it continues to invest in growth, as seen in its recent acquisition of Naturium for $355 million. The impact report underlines E.l.f. Beauty’s commitment to fostering positive change in the beauty industry.

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Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

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