Just days before announcing a billion-dollar acquisition, a major beauty company took to social media to let its fans know that it would be raising prices on many of its popular products.
e.l.f. Beauty, which has long been a fan-favorite makeup brand due to its affordable products and high-quality dupes of more expensive brands, shared a post on Instagram on May 23 where it said, “Starting August 1, our prices are going up by $1.”
, which featured a series of slides explaining the move, placed the blame on “inflation and tariffs” before stating that 75% of e.l.f. products will remain at $10 or less.
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A post shared by e.l.f. Cosmetics and Skincare (@elfcosmetics)
Fans were divided by the news, with some taking to the comments to decry the move as “corporate greed,” while others praised the beauty company for its transparency and for giving a three-month notice before the hikes go into effect.
“I’m happy to see the transparency rather than doing this silently BUT let’s not pretend that this huge corporation can’t eat the cost instead of raising prices on one of the most affordable makeup options we have. $1 is a slap in the face,” wrote one Instagram commenter.
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A post shared by Hailey Rhode Bieber (@haileybieber)
On May 28, the beauty company announced that it acquired rhode, a beauty brand founded by model Hailey Bieber. “The $1 billion deal is comprised of $800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of $200 million based on the future growth of the brand over a three-year timeframe,” the brand said in a statement.
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