The New York Stock Exchange welcomed the Elf Beauty to celebrate its 20th anniversary on March 18, 2024.
CEO Elf beautiful, It produces about 80% of cosmetics in China, told CNBC on Thursday that it was “relieved” New tariffs In terms of China’s imports, it is only 10%. Retailers are not sure if they will Need to increase the price.
Tarang Amin, discussing his company, said: “It seems like a strange thing, but when it’s only 10 points, we actually breathed a sigh of relief because there were 60 comments at one time % tariff.” Fiscal third-quarter earnings results.
Regarding raising prices, he said: “We’ll see if we need it.”
Comments were published a few days after President Donald Trump Slap new 10% tariff The import of goods from China to the United States has raised concerns about companies such as the High Elves, which have a large supply chain in the region.
Although 25% tariffs on Mexico and Canada have been suspended for 30 days since then, Beijing and Washington have not reached a deal, and China has attacked the United States with a series of retaliatory measures Blacklist Calvin Klein’s parent company PVH Corp.
The uncertainty surrounding the staying of tariffs in New China has led to some companies, such as Barbie doll manufacturers Mattelsay they will Rely on price increases Offset the impact on profits. Elf Ring a similar tone In November, a 60% tariff still seems to be possible.
“We want to play a role, too. There’s so much back and forth going on right now. If there are higher tariffs, we don’t want to announce our pricing action until we know where we feel it really settles down,” he explained.
When Trump put forward a new 25% tariff on China in the first semester, Amin said the company raised the price of one-third of its items by $1 and saw a “good consumer response” even though it Provides more affordable “dupes” reputational pharmacy prices cosmetics.
At that time, the elves produced nearly 100% of the goods in China. This time, it is in a better position after reducing its dependence on the region by about 20%. It also has a larger international business and more sales outside the United States
“Good thing, because we do have a longer supply chain…we won’t face it this fiscal year. It’s not until we start seeing us that we don’t start seeing our value until we know, until we know that we have reached us The (FY2026) higher inventory,” said Amin. “So we have time to make sure we have scripts.”
