The current political climate has seen many major corporations, including Amazon and Walmart, scale back their Diversity, Equity, and Inclusion (DEI) initiatives. However, e.l.f. Beauty, a prominent cosmetics brand, remains a notable exception, publicly championing its DEI efforts and inclusive marketing campaigns like “So Many Dicks.”
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This bold campaign directly addressed the underrepresentation of women on corporate boards, highlighting the disproportionate number of men named Richard, Rick, or Dick in leadership positions compared to women. “There’s nothing wrong with being Richard, Rick, or Dick,” e.l.f. CEO Tarang Amin explained in a CNN interview, “but we wanted to shine a light on giving other people a chance because we’ve seen the benefits in our own business.” E.l.f. boasts a board comprised of over 78% women and 44% people of color, a rarity among publicly traded companies.
The Business Case for Diversity
E.l.f., short for “eyes, lips, face,” and available at major retailers like Walmart and Target, demonstrates the strong business case for DEI amidst a nationwide backlash against such initiatives. While DEI has become a contentious topic, with many companies fearing a Bud Light-style boycott, e.l.f. remains steadfast in its commitment.
The company’s diverse employee base and loyal customer following, largely comprised of younger, more diverse consumers, strongly support its DEI efforts. This backing is evident in the overwhelmingly positive response to the “So Many Dicks” campaign on social media platforms like Instagram, with comments expressing pride and admiration for the brand.
DEI as a Driver of Success
E.l.f. has experienced remarkable success, with 23 consecutive quarters of sales growth and a stock price increase of over 700% in the past five years. Amin attributes this success to the company’s commitment to hiring a diverse workforce across various demographics, including gender, race, sexual orientation, and nationality. Approximately 75% of e.l.f.’s 500 employees are women, and 40% are people of color. The company also features transgender and non-binary models in its advertising, further demonstrating its commitment to inclusivity.
Standing Firm Against the Backlash
While some companies have succumbed to pressure and reversed their DEI efforts, e.l.f. remains unwavering. Amin believes that these companies are “reacting to one constituency” and risk losing out on “incredible talent.” E.l.f.’s focus on Millennial and Gen Z consumers, demographics that are more likely to support DEI, mitigates the risk of significant backlash.
According to Pew Research Center, women, workers under 30, and minority employees are the most vocal supporters of DEI in the workplace. This aligns perfectly with e.l.f.’s target demographic, further solidifying its position. The beauty industry’s historical lack of diversity also positions e.l.f.’s inclusive marketing as a key differentiator from established brands.
A Broader Commitment to Diversity
Despite the challenges, Amin remains optimistic about the future of DEI. He believes that the “anti-DEI thing” is overstated and that most business leaders remain committed to fostering diverse and inclusive workplaces. Companies like Costco and Apple have also publicly defended their DEI initiatives, signaling a broader trend of corporate commitment to diversity.
Conclusion
e.l.f. Beauty’s unwavering commitment to DEI serves as a powerful example of how inclusive marketing can drive both social impact and business success. By aligning its values with those of its target audience, e.l.f. has not only cultivated a loyal customer base but also positioned itself as a leader in the beauty industry. The company’s success story underscores the importance of diversity and inclusion in today’s business landscape.
