e.l.f. Beauty expands into haircare with affordable products, targeting $114M US market share.

e.l.f. Beauty is launching a new haircare line, its biggest category expansion since skincare in 2022, with six products priced at $10 or less. The launch started on TikTok and will expand to direct-to-consumer and Target stores by July. This move targets the $11.4 billion US mass haircare market, where capturing just 1% could add $114 million in revenue. Analysts see this as a strategic fit, leveraging e.l.f.'s strengths in affordability and trend responsiveness amid growing global haircare demand.