e.l.f. Cosmetics was founded by Joseph Shamah and Scott Vincent Borba in June 2004. The duo originally met at a party in 2002; Shamah was a 23-year-old New York University business student. Borba was a 31-year-old Los Angeles beauty-industry veteran, responsible for previously launching brands such as Hard Candy cosmetics. Both were enthusiastic about an inexpensive, high-quality cosmetics line for women, and decided to form a company together. A few days after the party they sat down to brainstorm, and a business plan was created within months. Borba claims the idea originated from seeing women with expensive cars such as BMWs and Mercedes-Benzes buying bargain-price cosmetics at 99-cent stores in Los Angeles. e.l.f.(short for Eyes Lips Face) Cosmetics was officially launched in New York City on June 2004, also with the assistance of Shamah's father Alan. They continue to sell high-quality cosmetics at $1, $3, and $6 price points. On February 3, 2014, TPG Growth bought a majority stake in E.l.f. Cosmetics. Joey Shamah was replaced by Tarang P. Amin, who "has been appointed president, chief executive officer and director of E.l.f. Cosmetics". Product The company started with only 13 makeup products, but has since developed more than 300 products that include bath products, skin-care products, mineral-based makeup, professional tools, eyeliners, lipstick, glosses, blushes, bronzers, brushes, mascara, and more. Most items cost $3. The variety of e.l.f. products allows the company to target a demographic with a broad age range, from teenagers to women in their 40s and 50s. The company carries different product lines, which include e.l.f. Studio, e.l.f. Minerals, and e.l.f. Essentials. There used to be e.l.f. Bath & Body, which includes moisturizers, cleanser, and fragrances.They have now stopped making those products. e.l.f. Studio - makeup line includes professional makeup for professional makeup artists and consumers. e.l.f. Minerals - consists of makeup made out of natural minerals. e.l.f. Essentials - includes "every-day" makeup supplies at lower prices, in an effort to be affordable. The newer e.l.f Elements line from e.l.f. Essentials also allows customers to customize their own makeup palette.
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