E.l.f.
Beauty (NYSE: ELF) hasn’t given investors a lot to cheer about lately, with the stock down about 30% over the past year
However, that could be about to change as the company starts to rev up the growth of its recently acquired Rhode brand and expand its namesake brand into a new category. Growth catalysts ahead E.l.f. completed its $1 billion acquisition of Rhode last August. At the time of the deal, the high-end skincare line founded by celebrity Hailey Bieber had quickly grown to over $200 million in sales, offering just a handful of products on its website with little marketing outside of Bieber’s own fame.
is now in the process of ramping up Rhode’s growth, which should help bring renewed interest to the stock. Before its acquisition, Rhode had already entered an agreement to start being sold in LVMH’s Sephora stores. Rhode saw strong success with its launch in U.S. and Canadian Sephora stores, but it has now started to expand overseas