What shines brightest in the mist darkness?
Purpose, ethos, mission shines brightest.
Estee Lauder Companies announced layoffs, cutting 5% of positions in their restructuring plan. This was triggered by a 7% drop in sales in the 2nd quarter and falling profits. L’Oreal also posted a drop in sales by 6.2% when expectations were an increase by 7.6%. Beauty Matter reported a 250% in bankruptcies and shutdowns YOY in the beauty industry.
The business landscape continues to change. Consumers are changing their tone. It will continue to evolve. This is the most magical time to build your brand. We are feeling the shifts, seeing the results, and it is riveting to be a part of the journey.
Align to your north star. Radiate your purpose. Embody, live, and rally your team, partners, community and co-create and collaborate.
Think that’s ‘pie in the sky’? It’s too idealistic? Well, don’t listen to me.
Kory Marchisotto, CMO, e.l.f. Beauty wrote the following on LinkedIn:
“We promise to keep disrupting norms, shaping culture and connecting communities with positivity, inclusivity and accessibility.
✨Our performance is powered by our people.
✨Our people are powered by our ethos.
✨Our ethos radiates the cultural conditions necessary for people to unleash their superpowers and for innovation to thrive, time and time and time again.
👏This moment belongs to every e.l.f. and every e.l.f. partner who dares to live our mantra, anything is e.l.f.ing possible, and boldly go where no e.l.f. has gone before 🚀✨
When we say we are a different kind of company, we mean it.”
Dare to be different. Be authentic. This is how to stand out in a noisy, over saturated, and fickle market. Despite economic conditions that one can not control, a business can still thrive. See the opportunity and capture the market share that aligns to your purpose, mission, and ethos.
Numbers don’t lie
Here are E.L.F.Beauty’s numbers:
E.L.F. BEAUTY. Feb 2019.
Net sales, $267 Million
Market cap, $414 Million
E.L.F. BEAUTY. Feb 2024.🚀
💥Net sales, nearly $1 Billion
💥Market cap, $9.5 Billion
More highlights from our e.l.f. beauty Q3 FY24 earnings:
💥Delivered 20th consecutive quarter of net sales growth
💥e.l.f. is 1 of only 5 public consumer companies (out of 274) with 20 consecutive quarters of > 20% growth
💥Grew net sales by 85%
💥Gained 305 basis points of cosmetics category share
💥Rose to the #3 Color Cosmetic Brand in the U.S.
When your brand embodies its brand equity, ethos, and commitment to its north star, not only do you shine bright even among the goliaths of the industry, consumers take notice, and they join the party by opening up their wallet.
Take this as a inspiring and motivational case study,knowing that there is room for everyone to shine and succeed. It is knowing how to strategically align every touch point of your business to your mission, ethos, purpose, and creating your brand’s universe and elevating your brand equity.
Marketing and brand strategy is only one piece of it. It is having a strategic and 360 degree holistic approach, connecting all the dots from communication and messaging to nuanced financial analysis seeking out opportunities that will bring your brand to life, just as E.L.F has done.
If your big vision goal is to grow and scale your brand while rooted in creating an aligned community to the mission, purpose, and vision of your brand on a global scale, and if your mission is to use your brand as a conduit to leave a positive legacy for future generations, we are here to support you.
Connect with us, and let’s chat
To your success xx
artist: Rene Magritte, L’Empire des lumieres, 1951